acceptance: essential element of a contract showing clear indication by the offeree to enter into a contract on the terms set out by the offeror
bilateral contract: a contract where both parties agree to do, or not do, something for each other
breach of condition: when an important contract term is breached
breach of contract: when one party fails to perform what they had agreed on in the contract
breach of warranty: when a minor contract term is breached
common mistake: when both parties make a mistake about the same contract term
consideration: essential element of a contract involving something of value that benefits the party who receives it, or is a loss or inconvenience to the party who provides it
contract: any legally binding agreement between two or more competent parties
contrary to public policy: contracts that conflict with morals and ethics of the community
counteroffer: when an offer is made as a response to a previous offer
discharge by agreement: where both parties agree to end the contract
discharge by frustration: discharge of a contract because it’s become impossible for the parties to fulfill their terms
discharge by performance: discharge of a contract once the obligations have been completed
discharge by substantial performance: discharge of a contract when most of the obligations have been completed
discharged: when a contract comes to an end and the parties no longer have contractual obligations to one another
duress: using unlawful threats or pressure to try and force someone into a contract
exemption clause: a contract clause that limits the liability of one of the parties
express contract: contract where the terms and conditions are set out and agreed upon when it is first formed
fraudulent misrepresentation: when a party knowingly makes a false statement, and intends for the other party to act on it
future consideration: something of value that is exchanged after a contract is made
gratuitous promise: an offer that benefits only the offeror...not a contract
implied contract: contract where parties indicate consensus through their conduct
incapacity to contract: the inability to enter into a legal contract
innocent misrepresentation: when a party makes a false statement, but they believed it to be true
invitation to treat: the communication that is intended to illicit offers from parties who receive it
lapse: when an offer is terminated or ceases to exist in certain circumstances
legal purpose: a purpose not forbidden by law
misrepresentation: when one party makes a false or inaccurate statement that causes the other party to enter into the contract
mistake: an error about an important term in a contract
mutual mistake: when both parties make a mistake, but about different contract terms
necessaries: ’life’ requirements such as food, shelter, clothing, medicine, etc.
offer: essential element of a contract involving the proposal to another party to enter into an agreement on certain terms
offeree: party who receives an offer
offeror: party who presents an offer
oral contract: verbal legally binding agreement between two or more people
past consideration: something of value that is exchanged before a contract is made
present consideration: something of value that is exchanged at the time a contract is made
recission: returning parties in a contract to their original pre-contract positions
revoked: when the offeror withdraws the offer before it’s accepted by the offeree
unconscionability: when one party takes unreasonable advantage of the other party
undue influence: when pressured to enter into a contract by a person with whom a special relationship exists
unilateral contract: a contract formed when the offeree accepts an offer by performing an act requested by the offeror
unilateral mistake: when one party makes a mistake, and the other party knows about it but doesn’t do anything
voidable contract: a contract that can be avoided or not carried out
written contract: agreement where the terms are written on paper or using Internet communication
Blair, A., Costiniuk, W., Moles, G., O’Malley, L., & Wasserman, A. (2009). Law in Action - Understanding Canadian Law (2nd Ed.). Pearson.
Business Practices & Consumer Protection Act (2004). August 8, 2024. Province of British Columbia. https://www.bclaws.gov.bc.ca/civix/document/id/complete/statreg/04002_04
Frustrated Contract Act (1996). August 8, 2024. Province of British Columbia. https://www.bclaws.gov.bc.ca/civix/document/id/complete/statreg/96166_01
Gibson , D.L., Murphy, T.G., Jarman, F.E., & Grant, D. (2003). All About Law (5th Ed.). Thomson Nelson.
Making a Contract. August 8, 2024. People's Law School. https://www.peopleslawschool.ca/making-contract/