Chapter 13. Flashcards
(7 cards)
1
Q
Contractual capacity
A
Capacity required by law for two parties to enter into contract
2
Q
Restrictive covenant (covenant not to compete)
A
Contract stating that one party refrain from conducting business similar to that of other party for a certain period of time in a specified area
3
Q
Employment contracts
A
Contract that state terms of employment
4
Q
Reformation
A
A court ordered correction of a written contract so that it reflects the true intentions of the parties
5
Q
Unconscionable
A
Voidable contract where terms of contract favor one party greatly
6
Q
Adhesion contract
A
A standard form contract in which the stronger party dictates the terms
7
Q
Exculpatory clause
A
Releases a contractual party from liability in the event of monetary or physical injury, no matter who is at fault
