Legal 2700 Test 2 Vocab with Correct Answers Latest Update 2025
Course:
LEGL 2700
Institution:
LEGL 2700
Legal 2700 Test 2 Vocab with Correct Answers Latest Update 2025
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| Uploaded on: | April 28, 2025 |
| Last updated: | April 30, 2025 |
| Number of pages: | 10 |
| Written in: | 2025/2026 |
| Type: | Exam (elaborations) |
| Contains: | Questions & Answers |
| Tags: | Legal 2700 Test 2 Vocab with Correct Answers Latest Update 2025 |
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Legal 2700 Test 2 Vocab | Q&A Latest 2025/2026 | 100% PASS Acceptance - Answer -a person's compliance with the terms of an offer made by another Accord - Answer -the new performance Accord and satisfaction - Answer -an agreement between two contracting parties that accepts alternate performance to discharge a pre-existing duty between them and the subsequent performance of that agreement Bilateral contract - Answer -an agreement containing mutual promises, both parties exchange promises to perform Capacity - Answer -a person's ability to be bound by a contract / make rational decisions Consideration - Answer -a promise, performance, or forbearance bargained by a promisor in exchange for their promise Counteroffer - Answer -the rejection of an offer to create a new one Covenants not to compete - Answer -an agreement where one party promises not to compete with the other party in a specified area for a certain period of time Deposited acceptance rule - Answer -contract rule which states that an offer is considered accepted at the time that the acceptance is communicated
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