Contract law vocabulary quizlet

What are terms in contract law?

Contract Law 101
A contract is an agreement between two parties that creates an obligation to perform (or not perform) a particular duty..

What are the 4 types of contract?

The terms of a contract describe the duties and obligations that each party assumes under an agreement.
Although terms are usually the result of an express agreement some terms are implied into a contract by the court, statutes or custom..

What is the vocabulary of contract?

4 Different Types of Contracts

What is the vocabulary of contract?

A contract term is any provision or term that forms part of a contract.
Each of these terms provides a contractual obligation, which can lead to litigation if breached.
Every contract a business enters will have critical terms that fall into various categories..