Contract Law Quiz: Validity and Enforcement

The creation of a legal obligation through the agreement of the parties involved.

The essential reason for a contract to exist. It's what makes the contract valid.

A specific reason a party enters a contract, not relevant to the other party.

The act of clarifying the meaning of words or actions in a contract.

The most important rule in contract interpretation. It means the intention of the parties should be understood.

The parties' actual words in a contract, showing their intended meaning.

The legal form or structure of a contract.

Specifies the specific types of contracts that must be in writing.

A contract that is legally effective until a court sets it aside.

A contract where there was no meeting of the minds, meaning the parties did not understand or agree to the same thing.

A contract that exists, but the written document does not accurately reflect the true agreement of the parties due to a mistake.

A person who is under the legal protection of a guardian, often a minor.

An agreement that is invalid from the very beginning because it lacks essential elements or goes against the law.

A contract that is legally valid but can be canceled by one party if certain legal conditions are met.

A contract where one party's consent was not given freely due to factors like mistake, fraud, or duress.

A contract that is legally binding and enforceable.

A remedy allowing a party to cancel a contract and restore the parties to their original positions.

A contract that is completely invalid from the start due to a fundamental flaw or illegality.

A contract that is valid but cannot be enforced in court due to a legal technicality, like lack of proper documentation.

A type of legal document that is recognized and authenticated by a notary public or other authorized official.

A form of legal document that is required by law for specific types of contracts or transactions.

A form of legal document required for a contract to be proven or enforced in court.

A form of legal document that is considered a legal formality, not essential to make the contract valid or enforceable.

An agreement reached between two or more parties to create a binding legal obligation, characterized by essential elements like consent, object, and cause.

A meeting of the minds of the parties to create a mutual understanding of the purpose and consequences of the contract. It involves a clear offer and acceptance.

Specific subject matter of the contract, clearly defined and capable of being identified.

The purpose or reason that motivates the parties to enter into the contract

An offer made by one party to another for entering into a contract, containing all necessary terms and conditions.

A statement that is not legally binding and does not constitute a complete offer for a contract.

When a person lacks the legal capacity to enter into a contract due to factors like age, mental competency, or legal status.

An act by a person capable of making a contract that happens when they are temporarily mentally sane.

Errors in judgment or understanding that can lead to a vitiated consent during contract formation.

A deliberate or deceptive act intended to mislead another party into agreeing to sign a contract, often involving misrepresentation or manipulation.

One of the vices of consent, characterized by coercion or threats that influence a party's decision to agree to a contract.

A vice of consent where a party's will is overcome by violence or physical harm, influencing them to agree to a contract.

A vice of consent where a party is under the undue influence of another, causing them to agree to a contract.

A mistake about a fact that is essential to the contract. If a party makes a mistake of fact, they may be able to void the contract.

A mistake about the legal effects of a contract. This usually does not make a contract voidable.

A type of fraud that is serious and directly affects the other party's decision to enter into a contract. It makes the contract voidable.

A type of fraud that is not serious and does not directly affect the other party's decision to enter into a contract. It may lead to compensation but not voiding the contract.

A circumstance where the parties agree to a contract but have a completely different understanding of what they are agreeing to. It can make the contract voidable.

A false representation of a fact to deceive someone into entering a contract. This usually makes the contract voidable.

A contract that doesn't actually exist or has no real legal effect. It is considered void.

A contract where the parties agree to a different agreement than what they actually intend to have on paper. It may be valid if the parties are honest.

A contract that has a valid form, but the terms are not actually what the parties intended.

The real agreement that parties make secretly, separate from their public contract.

Anything that can be the object of a contract. It must be legal, determinate, possible, and within the commerce of man.

An inheritance that is expected to be received in the future, after the death of a person.

A situation where a debtor's liabilities exceed their assets, making them unable to pay their debts.

The act of restoring the benefits that each party received during the contract, like returning a product to the store.

The legal concept that rescission should only be used to the extent needed to cover the damages caused by the contract.

The process of confirming or validating a contract that had a curable defect, making it legally binding.

The act of making a voidable contract valid by confirming it despite knowing about the defect.

The legal consequence of ratification, which eliminates the right to annul the contract and makes it valid from the start.

The time limit to file an action for annulment, usually within 4 years from the discovery of the defect.

Actions taken by the person who's entitled to annul a contract, confirming that they are aware of the defect and choose to accept it.

The party who is entitled to annul a contract, usually the one who was harmed by the defect.

The disappearance of the reason that made the contract voidable, allowing for the contract to be ratified.

The act of restoring the parties to their original positions before the contract was made, usually done after the contract is annulled.