Term
|
Definition
| a law to prevent fraud and perjury by requiring that certain contracts be in writing and be signed by the party responsible for performing the contract |
|
|
Term
|
Definition
| the person who manages an estate left by a will |
|
|
Term
|
Definition
| the person who manages an estate of a deceased person who has not written a will |
|
|
Term
|
Definition
| a rule of evidence that limits the terms of a contract to those expressed in writing |
|
|
Term
|
Definition
| the transfer of rights or property |
|
|
Term
|
Definition
| the party to a contract who makes an assignment |
|
|
Term
|
Definition
| the party to a contract to whom an assignment is made |
|
|
Term
| Third-party beneficiary contract |
|
Definition
| a contract between two parties that benefits a third party |
|
|
Term
|
Definition
| a third-party beneficiary owed a debt that is to be satisfied by performance of a contract |
|
|
Term
|
Definition
| a third-party beneficiary who receives the benefit of a contract’s performance as a gift from the promisee, with the intent of the contracting parties |
|
|
Term
|
Definition
| a third-party beneficiary who has no contractual rights but benefits from a contract even though that is not the intent of the parties to the contract |
|
|
Term
|
Definition
| a third-party beneficiary to whom a benefit was intended by the contracting parties |
|
|
Term
|
Definition
| an offer to perform one’s duties under a contract |
|
|
Term
|
Definition
| an agreement to replace an original party to a contract with a new party |
|
|
Term
|
Definition
| an event that must occur before a duty of performance arises in a contract |
|
|
Term
|
Definition
| an event that must occur at the same time as another condition in a contract |
|
|
Term
|
Definition
| an event that, if it occurs, discharges a duty of performance in a contract |
|
|
Term
|
Definition
| a party’s refusal to meet obligations under a contract |
|
|
Term
|
Definition
| a party’s unequivocal indication before contract performance is due that he or she will not perform when performance is due |
|
|
Term
|
Definition
| a payment awarded by a court to indemnify a victim for actual harm |
|
|
Term
|
Definition
| a payment awarded by a court to indemnify an injured party for losses that result indirectly from a wrong, such as a breach of contract or tort |
|
|
Term
| Punitive or exemplary damages |
|
Definition
| a payment awarded by a court to punish a defendant for a reckless, malicious, or deceitful act or to deter similar conduct; need not bear any relationship to a party’s actual damages |
|
|
Term
|
Definition
| a payment awarded by a court that exceeds the usual contract damages for a breach of contract |
|
|
Term
|
Definition
| a duty owed by an injured party to a lawsuit to take reasonable action, upon learning of a breach, to minimize a loss. |
|
|
Term
|
Definition
| a reasonable estimation of actual damages, agreed to by contracting parties and included in the contract, to be paid in the event of a breach or for negligence |
|
|
Term
|
Definition
| a court-ordered equitable remedy requiring precise fulfillment of a legal or contractual obligation when money damages are inappropriate or inadequate |
|
|
Term
|
Definition
| a court-ordered equitable remedy requiring a party to act or refrain from acting |
|
|
Term
|
Definition
| an equitable remedy by which a court modifies a written contract to reflect the parties’ actual intent |
|
|
