Contract - Written or spoken agreement, that is intended to be enforceable by law, Invitation to treat - Invitation to another person to make an offer to contract, Offer - An indication of willingness, to do or refrain form doing something that is capable of becoming a legally binding contract, Termination - Signifies the process of ending a contract , Acceptance - Agreement to terms of an offer, that converts the offer into a legally binding contract, Consideration - An exchange of promises to perform acts in the future, Express terms - Terms that the parties have specifically agreed to, Implied terms - Terms implied into a contract of sale, Conditions - If a party does not carry it out, you may claim damages or even treat the contract as anulled, Warranty - A term of a contract of lesser importance, Exclusion clauses - To exclude all liability for failing to carry out the contract, Valid - Legally enforceable, Void - Never legally valid, Voidable - Legal effect, but could be made void if you want to reside it, Damages - An award, typically of money, to be paid to a person as compensation for loss or injury, Equitable remedies - A distinct category of remedies that can be obtained in a breach of contract,
Law Topic 2
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