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Sports Law Exam 2 - Contract Law With Questions And 100% ALL SURE ANSWERS
Practice questions for this set
, Terms in this set (114)
Contract A formal term to describe a voluntary agreement, which imposes duties and benefits.
What does a contract impose? duties, benefits
A contract is ____than a promise more
If breached, the law will provide a___ ? remedy
Contract law's basis state law
Two ways a contract can be created express or implied
Express oral or written; terms clearly stated
Implied conduct indicates an agreement exists
Valid Contract one that is enforceable; provides relief to the non-breacher of the contract.
Breach when one party does not fulfill its obligation
Void not a contract; fails to meet contract standards
Voidable valid contract but has an option for one or both of the parties to cancel it.
Example of a voidable contract? a buyout clause; one party can pay the other to get out of the contract.
1. Offer
3 Elements of a Contract 2. Acceptance
3. Consideration
a party has to clearly state that they want a contract to exist; creates power of acceptance; may
Offer
provide the way that another party can accept the offer
Sports Law Exam 2 - Contract Law
Sports Law Exam 2 - Contract Law With Questions And 100% ALL SURE ANSWERS
Practice questions for this set
, Terms in this set (114)
Contract A formal term to describe a voluntary agreement, which imposes duties and benefits.
What does a contract impose? duties, benefits
A contract is ____than a promise more
If breached, the law will provide a___ ? remedy
Contract law's basis state law
Two ways a contract can be created express or implied
Express oral or written; terms clearly stated
Implied conduct indicates an agreement exists
Valid Contract one that is enforceable; provides relief to the non-breacher of the contract.
Breach when one party does not fulfill its obligation
Void not a contract; fails to meet contract standards
Voidable valid contract but has an option for one or both of the parties to cancel it.
Example of a voidable contract? a buyout clause; one party can pay the other to get out of the contract.
1. Offer
3 Elements of a Contract 2. Acceptance
3. Consideration
a party has to clearly state that they want a contract to exist; creates power of acceptance; may
Offer
provide the way that another party can accept the offer
Sports Law Exam 2 - Contract Law
