Contract Types Flashcards
1
Q
Executed Contract
A
A contract that has been performed by both parties
2
Q
Executory Contract
A
3
Q
Void Contract
A
4
Q
Voidable Contract
A
5
Q
Bilateral Contract
A
Results from an offer that CAN BE accepted by the giving of a return promise or by performance
6
Q
Unilateral Contract
A
Results from an offer promise that MUST BE and can ONLY BE accepted by giving the performance specified.
7
Q
Implied-In-Fact Contract
A
A contract that is accepted by actions. Sitting down at a salon and getting a haircut is an implication that you are wanting the haircut service and you are going to pay the price
