Midterm difentions Flashcards
Extreme pressure that eliminates the element of voluntariness during the pricess of contract formation.
Durress
The omission to do something which a reasonable person, guided by those ordinary considerations which regulate human affairs, would do, or the doing of something which a reasonable or prudent person would not do.
Negligence
An agreement between two or more persons which creates an oblifgation to do or not to do a patricular things.
Contract
Different than law created by government. Often termed “jude-made law”
Common law
Is the liablility of a party for the acts or omissions of another party. It is usually used in the context of an employer being liable for the acts of omissions of its employee.
Vicarious liablility
Is a statement of fact made by one party that is untrue.
Misrepersentation
An act of legislature declaring, commanding, or prohibitiing something; a particular law encated and established by the will of the legislative department of government (e.g law passed by parliment).
Statute
Taking all aspects into consideration, the likelihood of a proposistion or hypothesis being true. This is the standard required in most civil cases.
Balance of probabilities
Something of value that is exhanged by contracting parties
Consideration
Contract clause that is frequently used in construction constracts to protect the parties in the event that a segment of the contract cannot be performed due to causes that are outside the control of the parties, such as natural disasters.
Force Majure
A heightened duty to care for the interest of another party in priority to one’s own interesst,
FIduciary duty
The party agaisnt whom the claim has been made
Defendant
An interntional deception resulting in injnury to persons or corporations
Fraud
is an element of negligence and is the requirement in law that every person must take reasonable care for others based on the concept of reasonable foreseeability.
Duty of Care
behaviour that contributes to one’s own injury or loss and fails to meet the standard of prudence that one should observe for one’s own good.
Contributory negligence