Chapter 11 National Book Flashcards
1
Q
What is an amendment?
A
a change in the original contract
2
Q
Bilateral contract
A
a contract in which two parties
3
Q
Consideration
A
something of value to back a contract
can be love and affection
4
Q
Novation
A
subbing an old contract for a new one
5
Q
Executory contract
A
a contract that still is yet to be performed
6
Q
Equitable title
A
the title that you get after a sales contract has been signed
cannot transfer property yet but gives right to obtain full ownership
