Examlex
When is demand perfectly elastic? When is demand perfectly inelastic? What are the values of the price elasticity of demand when demand is perfectly elastic or perfectly inelastic? What do perfectly elastic and perfectly inelastic demand curves look like?
Battle of the Forms
Refers to a legal dispute arising from the exchange of conflicting terms and conditions in the contractual documents of the parties involved.
Unconscionability
Unconscionability involves contract terms that are excessively unfair or oppressive to one party, making enforcement unjust.
Contract Formation
The process by which an agreement between parties becomes legally binding, typically requiring offer, acceptance, consideration, and mutual intent to be bound.
Mirror Image Rule
The mirror image rule is a principle in contract law that requires an acceptance to be on exactly the same terms as the offer in order to result in a binding contract.
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