Chapter 5 - Introduction To Contracts Flashcards
1
Q
Courts decide whether or not a contract has been agreed upon due to how reasonable it is.
A
The Objective Standard Test
2
Q
It is based on the strength of the parties involved in the negotiation. Contract law assumes that all parties are equal
A
Bargaining Power
3
Q
Each party must exchange this for a contract to be valid
A
Consideration
