The Law of Contracts. Exercise 2.

1. The giving up of a legal right.

2. Standard language used commonly in documents of the same type.

3. One who makes a promise.

4. The overcoming of a person’s free will by misusing a position of trust and taking advantage of the other person who is relying on the trust relationship.

5. The overcoming of a person’s free will by the use of threat or physical harm.

6. A clause that is used in a contract to escape legal responsibility.

7. A contract that is drawn by one party to that party’s benefit and must be accepted,
as is, on a take-it-or-leave-it basis if a contract is to result.

8. A misrepresentation of a material, existing fact, knowingly made, that causes someone reasonably relying on it to suffer damages.

9. A contract so harshly one-sided and unfair that the court’s conscience is shocked.

10. One to whom a promise is made.

11. Legal rule stipulating that certain contracts must be in writing to be enforceable.

12. An exchange of benefits and detriments by the parties to an agreement.

13. The announcement, before the time for performance, by a party to a contract that
he or she is not going to perform.

14.The transfer of a right from one person to another.

15. The failure of a party to a contract to carry out the terms of the contract.

16. Compensation in money for loss or injury.

17. Discharging of a contract by doing that which one agreed to do under the terms
of the contract.

18. An order by the court ordering a breaching party to do that which he or she agreed to do under the terms of the contract.

19. Laws that set forth time limits for bringing legal actions.