Quiz questions Flashcards
(12 cards)
What is the method of terminations that the offeree responds with a willingness to enter into a contract on different terms
Counter-offer
What is when there is a withdrawl of an offer prior to acceptance by the offeree
Revocation
When happens with a minor and a cellphone plan once they are an adult
Old contract must end and new one created so that the adult will be liable
What is statutory assignment?
Must complete their obligation
What are the three express terms?
Liberal, literal, or against the party who suggested them
What is it called when you make minor changes to a contract
Variation
What is novation?
Making large changes to the terms of a contract
What is repudiation
Declaring will not perform under the contract.
What is rescission?
Parties agree to bring their contract to an end
What is implied repudiation?
Continued failure to meet the requirements
What is reliance damages?
Compensate the plaintiff for time and money spent in reliance or in preparation.
What is it called when one is mistaken about one of the terms of a contract
Unilateral mistake.
