| Term | Definition |
|---|
| law | the learned profession that is mastered by graduate study in a law school and that is responsible for the judicial system, a rule or body of rules of conduct inherent in human nature and essential to or binding upon human society |
| Contract | a variety of bridge in which the bidder receives points toward game only for the number of tricks he bid |
| Consideration | the exchange of things of value |
| Fraud | A deliberate deception intended to secure an unfair or unlawful gain. |
| Concealment | Occurs when an individual makes a false representation by choosing not to reveal important information. |
| Material Fact | a fact that is important to one of the parties in presenting a case of fraud |
| Misrepresentation | occurs when a person makes an innocent statement that later turns out to be false |
| Unilateral Mistake | an error on the part of one of the parties to the contract |
| capacity | is the legal ability to enter a contract. |
| Rebuttable Presumption | can be challenged in a court of law |
| Rescind | or cancel, the contract, or you may sue for money damages. |
| Undue influence | Occurs when a person in a fiduciary capacity or in a position of authority misuses the trust or power in order to unfairly induce a party to enter into a contract. |
| breach of contract | wrongful failure to perform one or more promises |
| usury | changing more than one maximum interest |
| lottery | players buy (or are given) chances and prizes are distributed according to the drawing of lots |
| license | is a legal document stating that the holder has permission from the proper authorities to carry on a certain trade profession. |
| ratify | to approve contracts made during minority. |
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