Q&A Hero

Question

a. assign k. money damages
b. attorney-in-fact l. mutual agreement
c. breach of contract m. novation
d. competent party n. offeror
e. consideration o. rescind
f. counteroffer p. specific performance
g. duress q. statute of frauds
h. forbear r. unilateral contract
i. fraud s. void contract
j. liquidated damages t. voidable contract
1> a contract in which one party makes a promise or begins performance without first receiving any promise to perform from the other
2> an act intended to deceive for the purpose of inducing another to part with something of value
3> a person who is considered legally capable of entering into a contract
4> the party who makes an offer
5> a contract that is not legally binding on any of the parties that made it
6> an offer made in response to an offer
7> to cancel a contract and restore the parties involved to their respective positions before the contract was made
8> use of force to obtain contract agreement
9> not to act
10> to transfer one's rights in a contract to another person
11> damages that can be measured in and compensated by money
12> failure, without legal excuse, to perform any promise called for in a contract
13> contract performance according to the precise terms agreed upon
14> a sum of money called for in a contract that is to be paid if the contract is breached
15> a contract that is able to be voided by one of its parties
16> the person holding a power of attorney on behalf of another
17> a meeting of the minds
18> an act or promise given in exchange for something
19> requires all contracts for the sale of land to be in writing to be enforceable in a court of law
20> the substitution of a new contract for an existing one

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