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Business Law Flashcards 4.01
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9
Business
12th Grade
10/10/2012
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Term
Bilateral
 Definition
Contains two promises
Term
Contract
 Definition
Any agreement enforceable by law
Term
Express
 Definition
Stated in words (oral and written)
Term
Implied
 Definition
Comes about by actions with no words
Term
Unenforceable
 Definition
Court will not uphold due to some rule of law
Term
Unilateral
 Definition
Contains one promise
Term
Valid
 Definition
Legally good
Term
Void
 Definition
No legal effect
Term
Voidable
 Definition
Party is able to void contract
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