Editing Contract Law (section)

== <span style="color: #FFFFFF;">Remembering</span> ==
* '''Contract''' — A legally binding agreement between two or more parties.
* '''Offer''' — A proposal by one party to another intended to create a binding contract.
* '''Acceptance''' — An agreement to the terms of an offer.
* '''Consideration''' — Something of value exchanged by both parties (e.g., money for a car).
* '''Capacity''' — The legal ability to enter into a contract (e.g., being an adult of sound mind).
* '''Legality''' — The requirement that the contract must be for a legal purpose.
* '''Breach of Contract''' — The failure to perform any term of a contract without a legitimate legal excuse.
* '''Damages''' — Money awarded to a party for loss or injury caused by a breach of contract.
* '''Specific Performance''' — A court order requiring a party to actually perform their side of the contract (rare, usually for unique items like land).
* '''Unconscionability''' — A defense against a contract that is so one-sided or unfair that it "shocks the conscience."
* '''Force Majeure''' — An "Act of God" clause that frees parties from liability when an extraordinary event (like a war or pandemic) prevents them from fulfilling the contract.
* '''Arbitration''' — Resolving a dispute outside of court with a neutral third party.
* '''Statute of Frauds''' — A rule requiring certain types of contracts (like for land) to be in writing to be enforceable.
* '''Void vs. Voidable''' — A void contract was never legal; a voidable contract is legal but one party has the right to cancel it (e.g., a contract with a minor).
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