Level 2
Level 3

Form of Contract


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authority to act
power to act
made in writing
on paper
to be effective
to come into operation
formally executed
signed, sealed, and delivered
enforceable
binding
standard wording
a recognised set of words
with the capacity to contract
legally capable to contract
made orally
spoken
implied from conduct
by the behaviour of a party
consideration
the price in exchange for a promise to do something
a seal
a printed company stamp
a void contract
no contract exists
minors
young people under 18
a voidable contract
a contract that may be avoided or cancelled
date of occurrence of the cause of action
time when an actionable event happened
limitation period
amount of time which is available for someone to start legal proceedings
lapse of time
the passing of a period of years