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Contracts/Illusory promise: Difference between revisions
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In [[contract law]], '''illusory promise''' is the name used on [[contract]]s that give the illusion to one party that there is a contract. The reason it's an illusion is because somewhere in the contract there is a statement that allows the other party to be excused from performing the duties of the contract if certain conditions are true, which will more likely than not be true. | In [[contract law]], '''illusory promise''' is the name used on [[contract]]s that give the illusion to one party that there is a contract. The reason it's an illusion is because somewhere in the contract there is a statement that allows the other party to be excused from performing the duties of the contract if certain conditions are true, which will more likely than not be true. | ||
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Revision as of 03:02, August 21, 2004
In contract law, illusory promise is the name used on contracts that give the illusion to one party that there is a contract. The reason it's an illusion is because somewhere in the contract there is a statement that allows the other party to be excused from performing the duties of the contract if certain conditions are true, which will more likely than not be true. Template:Stub
