Chapter Nine: Torts (3) & Chapter Twelve: Contracts
Order by
26 terms
Terms | Definitions |
|---|---|
 Governments are immune from | tort liability |
| Federal Tort Claims Act is | one act helping abolish government immunity rule |
| When Strict Liability standards apply | few defenses are avaliable |
| Strict Liability was developed | to provide guaranteed protection for those who are injured by conduct the law deems serious and inexcusable |
| Strict Liability | Absolute standard of liability imposed by law in conditions the courts or legislatures determined requires a high degree of protection |
| When strict liability is imposed | the party who has caused injury/damages will be required to compensate for those damages |
| Contract | a legally binding agreement |
| A Contract is a Promise or set of promises that | gives an answer or performance of which the law recognizes as a duty |
| By mutual agreement the parties create | enforceable duties or obligations |
| Each party is legally bound to | do or to refrain from certain acts |
| Elements of a Contract | Agreement Between parties, Based on agreement of the parties, Supported by consideration, Made for a lawful objective, In the form required by law, if any |
| Subject Matter of Contracts | Relate to performances of personal services, May provide transfer of ownership of property |
| If promise is binding | it imposes on the promiser a duty or obligation |
| Party to a contract may be | an individual, partnership, limited liability company, corporation, government |
| If a contract is written parties who are bound by it can be determined | by reading what the document says and seeing how it is signed |
| An agreement arises when | one person, the offeror, makes an offer and the person to whom the odder is made (offeree) accepts |
| Parties must have an | intent to enter into an agreement that is binding |
| In absence of declaring a contract void or voidable | parties may make such contracts as they choose |
| Law does not require parties to be | fair, kind, reasonable, or to share gains or losses equitably |
| Formal Contracts | Formality with which they are executed is sufficient to signify that the parties intend to be bound by their terms |
| Contracts under seal | signature is followed by a scroll, the word seal or the letters L.S. |
| Recognizance | Contracts of record are obligations that have been entered before a court record |
| Informal Contracts | Oral or written contract, Enforceable because they represent an agreement |
| Express Contracts | terms of agreement of the parties are spoken or written |
| Implied Contracts | agreement is shown by the acts and conduct of the parties |
| Implied Contracts Arise when | A person renders services under circumstances indicating that payment for them is expected and the other person, knowing such circumstances, accepts the benefit of those services |
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