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LSDefine

Simple English definitions for legal terms

illusory contract

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A quick definition of illusory contract:

An illusory contract is an agreement between two or more parties that seems like a real contract, but one party doesn't actually have to do anything. This means that the contract isn't really enforceable or legally recognized. It's like making a promise that you don't have to keep. Sometimes people use the word "contract" to refer to the written document that shows the agreement, but that's not really what makes a contract real or not.

A more thorough explanation:

An illusory contract is a type of contract that appears to be binding, but in reality, it is not. It is a contract that lacks consideration, which means that one party is not obligated to do anything. Therefore, the contract is not enforceable by law.

For example, if a company offers a job to an employee but reserves the right to terminate the employment at any time without cause, the contract is illusory. The employee is obligated to work for the company, but the company is not obligated to keep the employee employed. Therefore, the contract is not enforceable.

Another example of an illusory contract is a contract that gives one party the option to cancel the contract at any time. For instance, if a person signs a contract to buy a car but has the option to cancel the contract within 24 hours, the contract is illusory. The buyer is not obligated to buy the car, and the seller is not guaranteed a sale.

In both examples, the contracts lack consideration, which is a necessary element of a binding contract. Therefore, they are illusory contracts and not enforceable by law.

Illusory Appointment Act | illusory tenant

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Mostlylegal
12:55
(thats not me thats the el paso shooter btw i just thought people would get that)
:o
Mostlylegal
12:56
did i fool you?!
noreaster
12:57
husband coming to live with me this summer
noreaster
12:57
woohoo
first power bottom president... besties we had JFK
noreaster
12:58
^
HOW COULD I FORGET RIP JFK YOU WOULD'VE LOVED $2 DRINK NIGHT IN THE GAY CLUBS
12:59
Anyone here going to Catholic or Drexel or NYLS ??
12-78-90live
13:00
Does anyone have confirmation on UConn’s class being full or not?
Mostlylegal
13:09
yeah its full, full of goobers!
they're arguing on the lawschooladmissions reddit rn about not applying to law school if you score below 150
guys i'll only say this one: do NOT apply to law school if you are only 150 rats in a trench coat pretending to be a person. everyone knows 150+ rats are needed to pass as a human being.
13:12
haha good one
i'm so glad we're finally talking about this here. the meme'ing is so good lmfao
13:13
bold of you to assume 150 rats < 1 human (infected with brain rot)
ClassyPleasantHeron
13:13
They've been arguing and memeing about that on Reddit for a few days now. All the poor sharks have waterski marks on their backs from all the jumping.
13:14
echo chamber > affirmation of beliefs > dopamine hit > mental gymnastics > think funny > 'Just trolling' > repeat. Sad state of reddit
Mostlylegal
13:14
classic nondenominational service
LMAOOOO it's so dumb man like i wish the biggest issue in my life was caring about the lsat score of others
13:16
lsat is the totem pole of law school. I for one will get a tattoo of my score to assert dominance both to peers and any teacher whom comes into contact with me
that's true honestly i saw how those rats in nosferatu can cause some damage in packs of like 50
13:17
opening line day 1 of 1L: 'So what did YOU get on the LSAT" if lower than me > wow u sugg. if higher than me > ur a liar!
Mostlylegal
13:17
who would win a >150 lsat or a law school
who will win: 50 rats or michigan admissions office
Mostlylegal
13:17
wait you guys are paying tuition???
13:18
What if 50 rats got into NDLS & NYU, ate all the apps, and both schools do not want to tell the world so they are just stalling hopeing every1 just forgets/goes somewhere else?? #RatGate
i heard barron trump ate the nyu apps that's why he's so tall
Mostlylegal
13:20
when I stand on my money im 5'11 (im 5'103/4)
13:26
Haha "Anytime I feel short, I stand on my wallet," mostly knows coins are far thicker than bills, smart man
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