Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Contract Law > Law Glossary > Flashcards

Law Glossary Flashcards

You may prefer our related Brainscape-certified flashcards:
Civil Procedure 1L flashcards MBE flashcards MPRE flashcards
1
Q

Prima Facie

A

At first glance/On the face of it

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Invitation to treat

A

The customer is invited to make the offer

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

General Offer

A

Offer made to the world at large

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Unilateral Offer

A

A promise which demands an act in return

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Bilateral Offer

A

A promise which demands a promise in return

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Specific Offer

A

A promise made to an individual or a specific group of people

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Collateral Offer

A

An offer to form a minor contract in return for a promise to form a major contract.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Consensus Ad Idem

A

Meeting of the minds

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Acceptance

A

The final expression of assent to the terms of an offer

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Expressly

A

Anything expressly stated via writing or stated orally

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Implied

A

Inferred from ones conduct

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Waiver

A

One party can forgo their right to have acceptance communicated

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Implied term

A

A term not expressly stated but is “understood to exist” by both parties or impose by statute

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Rebuttal

A

To provide evidence of the contrary

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Intention

A

“I intend that you can sue me if I break my promise”

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

Freedom of Contract

A

Parties must fully negotiate their contract without any threats/duress being present

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

Equality of Bargaining

A

Courts protect those who are less equal in a contract

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

Laissez Faire

A

Courts will not interfere with a bargain (Hands off approach)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

Unequivocal

A

Unqualified/Indisputable

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

Construe

A

Interpret/Criticise

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

Offer

A

An expression of willingness to contract on certain terms with the intention (Actual or apparent) that it should become binding as soon as it is accepted

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

Consideration

A

The principle essential ingredient of enforceability

Something of value in the eyes of the law

Quid Pro Quo

A benefit accuring to one or a detriment to the other (Curie v Misa)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

Promissory Estoppel

A

A person who promises not to enforce their strict legal rights may be doing so by equity

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

Privity

A

Only people who supply consideration are parties to a contract

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
25
Q

Representation

A

A statement of fact which induces a person to enter a contract

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
26
Q

Terms

A

Contractual promises contained within the contract

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
27
Q

Condition

A

Breach which gives rise to the remedy of rescission and damages

28
Q

Warranties

A

Breach which gives rise to the remedy of damages only

29
Q

Exclusion Clause

A

“I am not liable to pay damages for a breach of contract”

30
Q

Limitation Clause

A

“I am liable for a breach of contract but i have put limits on the quantity of damages i can pay you”

31
Q

Penalty Clause

A

“I agree to suffer a penalty for a breach of contract”

32
Q

Res Extincta

A

A contract will be void at common law if the subject matter is non-existent

33
Q

Inter Absentes

A

The party is not present (Ebay)

34
Q

Inter Presentes

A

The party is physically present (Retail)

35
Q

Void Ab Initio

A

Void from the beginning

36
Q

Gratuitious Promise

A

A promise that demands nothing in return

37
Q

Caveat Empto

A

Buyer beware

38
Q

Trade Puff

A

Statements made with the intention of enhancing the product

39
Q

Fraudulent

A

A statement made which is false or without belief in its truth

40
Q

Innocent

A

One in which the representor can find reasonable grounds to believe in its its truth

41
Q

Negligent

A

A statement made without reasonable grounds that it is true

42
Q

Rescission

A

The contract will be void

43
Q

Damages

A

Compensation will be given to the affected party

44
Q

Indemnity

A

The contract will continue but any losses suffered will be paid

45
Q

Innominate Term

A

A term which is not classified by the party themselves/oral/vague/ambiguous/equivocal

46
Q

Contra Proferentem

A

If a clause in a contract is ambiguous, it should be interpreted against the interest of the person who insisted that the clause be included

47
Q

Common Mistake

A

When both parties make the same error relating to a fundamental fact

48
Q

Res Sua

A

Where a person makes a contract to purchase that which belongs to him

49
Q

Mistake as to quality

A

Will not affect assent unless it is the mistake of both parties and is to the existence of some quality which makes the thing without the quality essentially different from the thing as it was believed to be

50
Q

Mutual Mistake

A

A mistake is one where both parties fail to understand each other

51
Q

Unilateral Mistake

A

A case of unilateral mistake is where only one party is mistaken

52
Q

Mistake as to the terms of the contract

A

Where one party is mistake as to the nature of the contract and the other party is aware of the mistake, the contract is void

53
Q

Mistake as to identity

A

One party makes a contract with a second party, believing him to be someone else

54
Q

Nemodat Quod Non Habet

A

No-one sells what he does not have

55
Q

Restraint of trade

A

One in which a party agrees to restrict their own liberty in the future or to carry on trade with other persons not parties to a contract

56
Q

Raison D’etre

A

Purpose

57
Q

Executed Consideration

A

Consideration is exchanged at the time the promises were exchanged

58
Q

Executory Consideration

A

Consideration is exchanged at some time in the future

59
Q

Past Consideration

A

An act has already been completed prior to the promise being made

60
Q

Contract

A

A promise or set of promises enforceable by law

61
Q

Express Terms

A

Those agreed by the party themselves

62
Q

Implied Terms

A

Those which are put into the contract by the courts or by statute

63
Q

Innominate Terms

A

Unclassified whether it is a condition or warranty

64
Q

Statement of Opinion

A

“Statement of belief on grounds incapable of actual proof”

65
Q

Uberreimae Fidei

A

Utmost good faith

66
Q

Duress

A

Where a person enters into an agreement as a result of threats

67
Q

Tort

A

Where a criminal offence gives rise to a civil action

Contract Law (5 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions