Examlex
One-factor analysis of variance:
Objective Theory Of Contracts
A theory under which the intent to form a contract will be judged by outward, objective facts as interpreted by a reasonable person, rather than by the party’s own secret, subjective intentions. Objective facts might include what a party said when entering into the contract, how a party acted or appeared, and the circumstances surrounding the transaction.
Express Contract
A contract in which the terms of the agreement are fully and explicitly stated in words, oral or written.
Express Contract
A legally-binding agreement in which the terms are explicitly stated by the parties involved either orally or in writing.
Unilateral Contract
A contract in which one party makes a promise in exchange for an act by the other party, becoming binding only when the act is completed.
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