Business Law

1. Section ___ of the Indian Contract says: "A person generally sound, occasionally unsound can enter into a contract when he is of a sound mind."
3. A legally enforceable agreement between two or more parties
7. A statement, either written or oral, of an exchange of promises between two or more parties
8. A legal bond of moral duty by which one or more parties are bound to act or refrain from acting.
11. A type of contract which is made specifically to another person
12. A wrong or mistake in understanding of a contract
13. A type of contract between two or more parties which may be rendered unenforceable due to legal reasons like a mistake or fraud
15. Unlawful pressure exerted upon a person in order to force that person into a contract that he or she ordinarily wouldn't ente
16. A deed that transfers an ownership interest in a property from one person to another
19. Compensation for loss or damage from actions of another party

2. Promissory ______ is used to identify the promise underlying in a transaction
3. Latin term that means agreement with consent
4. A signed document that promises a sum of payment to a specified person or the assignee
5. A civil wrong or wrongful act
6. This requires defendants to relinquish any profits that they have unlawfully obtained and return them to the plaintiff.
9. It is the use of or threat to use prejudice, property or any act to force a party to enter into an agreement
10. A contract in which only one party makes an express promise
14. A factor differentiating an offer and an invitation to treat
17. An action, document or transaction which has no legal effect
18. A written law passed by a legislature on a state or federal level