Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
11 Cards in this Set
- Front
- Back
Forbearance |
The promise to refrain from doing something that a party has a legal right to do. |
|
Promisor |
In the making of a contract, the party who makes a promise. |
|
Promisee |
In the making of a contract, the party to whom a promise is made. |
|
Pledge |
A promise to donate money to a church, temple, mosque, hospital, college, cultural institution, or other charitable organization. |
|
General release |
A written agreement in which an aggrieved party can discharge in whole or in part a claim resulting from an alleged breach of contract. |
|
Barren promise |
A promise to pay an existing debt or to obey the law, or a similar promise of something already owed. |
|
Preexisting duty |
An obligation that a party is already bound to by law or by some other agreement. |
|
Gratuitous promise |
A promise that does not require some benefit in return. |
|
Illusory promise |
One that consists of an indefinite, open-ended statement purporting to be an agreement. |
|
Moral consideration |
Something that a person is not legally bound to do but that he or she may feel bound to do because of love, friendship, honor, sympathy, conscience, or other reason. |
|
Past consideration |
A promise to repay someone for a benefit after it has been received. |