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Contracts/Illusory promise

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< Contracts
Revision as of 02:03, August 13, 2004 by en>Altenmann

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.