Basic Contract Terms

• To tackle: To begin to deal with a difficult task or problem. In a legal context, this could mean taking on a complex case or legal issue.
• To enter into: To formally agree to something, like a contract or agreement.
• To be legally bound: To be obligated to do something because of a law or contract.
• To take to court: To initiate legal proceedings against someone.
• To throw out of court: When a judge dismisses a case, often due to lack of evidence or merit.
• Consideration: Something of value exchanged between parties to a contract that makes it legally binding (e.g., money, goods, services, or a promise to do or not do something).
• Illusory promise: A promise that appears real but is so vague or conditional that it does not actually create a binding obligation.
• Hot air: Empty talk; promises or claims that are not genuine or sincere.
• An offer: A proposal to enter into a contract, including definite terms.
• Acceptance: An agreement to the terms of an offer, creating a binding contract.
• Back out on a whim: To withdraw from an agreement without a valid reason.
• Right to revoke: The ability to withdraw an offer before it is accepted.
• Option contract: An agreement where one party pays for the right to keep an offer open for a specific time.
• Reject outright: To completely refuse an offer.
• Counteroffer: A response to an offer that changes the terms, effectively rejecting the original offer and creating a new one.
• Scratch the surface: To only begin to deal with a problem or issue; to address something superficially.

Need Classes?

Legal English innovation has several classes weekly, focusing on commercial law and other areas to help you communicate better with your clients.

+57 320-315-4781

Follow us on Instagram!

Friends on Facebook?

Like us on Linked In?