Contract Law Review 7-9

To say that a contract is legally binding means it is _________

"This is a hot car, you'll get lots of dates with this!" This is legal and called what?

A contract that amounts to nothing and has no legal effect is _____________

Being forced at gunpoint to enter a contract will make it no longer a genuine agreement, called

Designed to punish the wrongdoer for act of fraud, goes beyond the money needed to pay back

The taking back of an offer by the offeror is ____________

If no time for acceptance is stated in offer, it must be accepted within ______

The legal ability to enter a contract is called 

Threatening a persons business or income to cause them to enter a contract without consent

The basic requirements of an offer are 

If a valid offer is met with a valid acceptance, the result is __________

Other people who may lack capacity to enter into contracts include _______

Minors may avoid or ____________ contracts which means that they are not bound.

To ratify a contract made during minority, the minor must do the following ________

Unfair and improper persuasive pressure exercised by one person in a relationship of trust

Other than necessities, minor are held responsible for the following _________

After reaching the age of majority, a contract made during minority may be 

Minors are held responsible for fair value of necessities which include _____________

Offeree uses the same method of communication as offeror, contract exists when acceptance is 

Hiding a fact, not saying something that should be said is called nondisclosure or _______

Someone says, "I'll sell you my camera for $200", and you say "I'll give you $150" 

A deliberate deception to secure unfair or unlawful gain is

Saying "no, I don't want to buy your car" is which termination of the offer?

To be effective, an offer must be communicated to the ___________

Paying for your gas after you pump it and putting money in the box when you enter a bus

A false statement made unintentionally or innocently is 

If you sign a contract without reading it, you will be bound to it because of this.

The principle that requires that an acceptance not change the terms of an offer is called _____

A contract that contains a promise by both parties is ______

A binding promise to hold an offer open for a specified period of time, similar to layaway plan