BLAW 2301 Study Guide - Midterm Guide: Executory Contract, Estoppel, Quasi-Contract
Document Summary
To make certain the defendant promised to do something. If she did promise, is it fair to make her honor her word. Bilateral contract promise made in exchange for another promise. I"ll promise to pay you and he promises to my paint my fence. Unilateral contract one party makes a promise that the other party can accept only by doing something. I"ll pay you if you paint my fence. Only way you can bind someone is once they show up with what was asked. Executory contract an agreement in which one or more parties has not yet fulfilled their obligations. Valid contract satisfies the law"s requirements, all 7 elements of a contract. Unenforceable agreement parties form a valid agreement but cannot be upheld by the court (like not in writing) Voidable contract law permits one party to terminate the agreement. Happens when its signed under duress or party commits fraud.
