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5 Cards in this Set
- Front
- Back
Contract
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A legally enforcable exchange of promises
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Detriment
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Doing something that you're not legally obligated to do outside the contract
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Four Elements of a Valid Contract
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1) Mutual Agreement
2) Consideration 3) Legality of Object 4) CApacity of Party |
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What do we look for to see whether there is valid consideration for a contract?
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Was what was exchanged for equal or similar value
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When does a court uphold the statute of frauds?
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Unjust enrichment and promisory estoppel
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