consideration, assignment, inducement, formation, essential, capacity, offeror, enforeable, offeree, illegality, duress, subsequently, delegation, enforceable
Under the common law, a promise becomes an 1) ________________ contract when there is an offer by one party 2), ____________ , that is accepted by the other party 3), __________, with the exchange of legally sufficient 4) _______________.
For a promise to become an enforceable contract, the parties must also agree on the 5) ___________terms of the contract.
In a contractual dispute, certain defences to the 6) ________________ of a contract may permit a party to escape his/her obligations under the contract. For example, 7) ____________of the subject matter, fraud in the 8) ________________, 9) ____________ and the lack of 10) _____________to contract all enable a party to attack the validity of a contract.
Contracts made for the benefit of a third party (third-party beneficialry contracts) may be enforceable by the third party. An original party to a contract may also 11) ___________transfer his rights/duties under the contract to a third party by way of an 12) _____________of rights or 13) ___________of duties.
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