Exam (elaborations)
NCRA RPR STUDY GUIDE LEGAL- CONTRACTS
- Course
- Institution
NCRA RPR STUDY GUIDE LEGAL- CONTRACTS ...
[Show more]
Content preview
NCRA RPR STUDY GUIDE LEGAL-CONTRACTS
implied contract - Answer an agreement created by actions of the parties involved, but it
is not written or spoken. There is no written record nor any actual verbal agreement. A
form of an implied contract is an implied warranty provided automatically by law.
executory contract - Answer a contract made by two parties in which the terms are set
to be fulfilled at a later date.
unilateral contract - Answer a contract created by an offer than can only be accepted by
performance.
breach of contract - Answer failure to fulfill the terms of a contract
rescind - Answer to cancel or void a contract
express contract - Answer a verbal contract
inchoate - Answer incomplete
covenant - Answer agreement
bilateral - Answer a contract in which there is a promise for a promise
executed - Answer a contract in which the promises are made and completed
immediately
caveat emptor - Answer let the buyer beware
surety - Answer a person who takes responsibility for another's performance of an
undertaking, for example their appearing in court or the payment of a debt.
money given to support an undertaking that someone will perform a duty, pay their
debts, etc.; a guarantee.
"the judge granted bail with a surety of $500"
assignable - Answer A contract which includes a clause that allows an owner to give the
rights and obligations to a new owner, who will also receive any benefits under the
contract before it closes.
ex contractu - Answer From a contract. A legal term that indicates a consequence of a
contract. Ex contractu is often to denote the source of a legal action
subrogation - Answer substitution of one person for another with respect to rights,
claims, or securities.
counteroffer - Answer an offer made in response to another
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Flat. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
78252 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now