Chapter 7 Flashcards
Enemy aliens
People residing in a country at war with the country of which they are a citizen or subject
Evidence in writing
Any document that provides information or proof
Executed contract
A fully performed contract; a contract at the stage when both parties have performed or fulfilled their obligations
Executory contract
A contract yet to be performed; a contract at the stage when an agreement has been made but before performance is due
Goodwill
A business’s reputation and ongoing relations with customers and product identification
Infants
Persons under the age of majority; minors
Necessaries
The essential goods or services required to function in society, such as food, clothing and shelter
Partially executed contract
A contract at the stage when one party has performed and the other has not
Public policy
The public good; some acts, though not illegal, will not be enforced by the courts because they are socially distasteful
Repudiation
An indication by one party to the other that there will be a failure to honour the contract (the expression of which can be expressed or implied)