Antenuptial agreement - Contract entered into prior to marriage determining parties' rights on dissolution of the marriage; must be in writing., Condition - Fact or event, the happening or nonhappening of which creates or extinguishes an absolute duty to perform., Condition concurrent - Promise to perform and performance occur simultaneously., Condition precedent - Fact or event that must occur before an absolute duty to perform is created., Condition subsequent - Fact or event that extinguishes an absolute duty to perform; no breach of contract., Constructive condition - Same as implied-in-fact condition, Covenant - An absolute, unconditional promise to perform., Express condition - Condition created by words of the parties., Guarantee - Promise to answer for the debts of another; must be in writing., Implied-in-fact condition - Condition created by the reasonable expectations of the parties., Implied-in-law condition - Condition imposed by law in the interest of fairness., Palimony - Payment made to a person under certain circumstances pursuant to the break-up of a nonmarital relationship., Parol evidence rule - Oral testimony may not be used to vary the terms of a contract in writing., Prenuptial agreement - Same as antenuptial agreement., Promissory note - Written promise to pay money in repayment of a loan., Rules of construction - Court guidelines used to interpret contractual provisions., Statute of Frauds - Law requiring certain types of contracts to be in writing to be enforceable., Time of the essence clause - Contractual clause that makes a covenant of a timing element., Types of contracts to be in writing - (1) Real estate (2) marriage (3) > one year (4) guarantees (5) > $500 (6) decedent's debt, Uniform Commercial Code - Statutory enactment that covers the sale of goods valued at over $ 500, among other things.,

Contract Provisions - Vocabulary Drill

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