123
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ACROSS
3 With this, a contract is discharged by the law;
Argument: “it can’t be done,” as opposed to “I
simply cannot do it.”
4 A unilateral contract offer cannot be revoked if
the offeree has
undertaken performance
7 This is the process of transferring to another all
or part of one’s duties arising under a contract;
one can always do this unless the performance is
“too personal”
10 “A sheriff cannot claim a reward if he captures
a criminal because his employment contract
already requires him to do so. STATEMENT: The
principle involved here is called “
duty.”
13 Where a contract is cancelled and the parties
are returned to pre-contract status; can be done
by the parties agreeing, or by their conduct, or by
the law
15 With
negotiations (also known as
“invitations to negotiate”), this is not an offer, so
cannot be “accepted;” Examples are
advertisements, catalogues, and circulars
19 A contract that results when an offer can be
accepted only by the offeree’s 100% COMPLETED
performance (no contract comes into existence
until the act is completely PERFORMED); “a
promise for an act”
21 I say, “I offer to sell you my car for $5,000.”
You say, “I accept … it’s a deal! But, I’ll pay you
$4,000 instead.” STATEMENT: This is not a
contract because this results in being a “
offer.”
22 A contract that is binding, but may be legally
avoided at the option of a party. This contract is
not valid, void or unenforceable, but is “
”
23 If this “statute of” arises, the law requires that
certain contracts must be in writing to be
enforceable in court. NOTE: There is STILL a
contract that the parties can VOLUNTARILY
perform upon … it is only important if one of the
parties refuses to perform: then it cannot be
enforced (in court)
24 With this kind of “performance” a court will
require a breaching party to exactly do the thing
contracted for; a very rare remedy … especially
if damages could make the parties whole DOWN
1 A type of contract that arises when a promise is
given in exchange or a return promise
2 The thing of value that is “bargained for” in a
contract; could be a benefit or detriment
5 The effect of this makes a contract unenforceable,
and a court will not usually aid either party; contract
is often void because the parties are “in pari
delicto”
6 This involves the substitution of a new contract
for a previous contract and the removal of the original
party’s rights and duties, substituted with a new party
8 The act of transferring to another all or part of one’s
rights arising under a contract; could be the rights to
money, property, services, etc. However, cannot
“increase the duty of the obligor”
9 A contract is unenforceable if it is this kind; often
offered on a “take-it-or-leave-it” basis where one party
has stronger (unfair) bargaining advantage, and dictates
terms 11 A promise is enforceable even though it
has no consideration if one can
successfully argue this “promissory”
thing. -Must contain a promise, reliance on
that promise by the promisee, and a
situation where it would be fair” for the
courts to “stop” the promisor from
denying contractual responsibility
12 Although a minor’s contract is usually
voidable, the contract is enforceable
against him if the subject matter was for
these. NOTE: A minor’s “station in life” is
important in determining whether the items
are these, or instead, luxuries
14 These kinds of “promises” are
unenforceable because they are too vague
and have no consideration. They seem to
say something, but fail because they are
uncertain (e.g., “I will pay you for the car …
if I feel I can” (spelled backward)
16 The reason why question #21 Across
(above) is not a contract is because the
“acceptance” violates “The
Image
Rule” 17 This “consideration” is NOT
consideration. It is an act
completed BEFORE the contract is
made; this cannot be consideration
because one cannot negotiate
(later) for something that was
already done (previously)
18 This is where a lender charges
an illegal rate of interest on a loan;
depending on the state: can make
the whole contract void, OR
principal collectible and up to the
legal % rate for interest (and forfeit
the balance), OR principle only
(forfeiting all interest)
20 This is a kind of “contract” that
is “Implied in Law;” -a fictional
contract imposed by the courts in
the interests of “fairness” and
justice; usually imposed to avoid
the “unjust enrichment” of one
party at the expense of another ©2015

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