| A | B |
|---|
| Contract law | branch of civil law |
| Contract | an agreement between parties the the law will recognize |
| offer | desire to enter into an agreement |
| acceptance | taking of the offer |
| consideration | evidence that all aspects have been considered |
| contractual capacity | was consideration appropriate: parties are of "sound mind" and of legal age |
| legal matter | contracts involve activities which are recognized as legal |
| void | contract is without any legal force |
| voidable | a contract is legal, but not enforceable at this time=may be validated later |
| implied contracts | not written: those based on the actions or behaviors of the parties |
| reasonable person standard | what would a reasonable and prudent person do under the same or similar conditions |
| expressed contract | may be oral or written: all terms of the contract are explicitly stated |
| statute of frauds | law indicating when a contract MUST be in writing |
| breach of contract | failure of a party to perform any aspect of the agreed-upon contract |
| Law of agency | employers are liable for the actions of their employees - doing work as their delegate |
| doctrine | an accepted rule or principal |
