A Promise to Refrain from Doing an Illegal Act Can

question 60

True/False

A promise to refrain from doing an illegal act can support a contract.

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Definitions:

Timely Performance

Executing or completing a task or duty within the allocated or agreed upon time frame.

Liquidated Damages Clause

A contract provision that establishes a predetermined amount of damages to be paid if one of the parties breaches the contract.

Material Breach

A violation of a contract's terms that is so substantial it fundamentally disrupts the contract's purpose, allowing the other party to terminate the agreement.

Difficult to Estimate

Refers to a situation, value, or outcome that is challenging to predict or quantify accurately due to varying factors or complexities.