National contracts visual
Move from formation through validity, performance, change of party, breach, remedy, and discharge without confusing the status words.
Facts checked against the current PSI Candidate Information Bulletin and GREC sources. Editorial standards.
Use the map in order
Find offer, acceptance, consideration, competent parties, and lawful objective.
Yes or applies
Continue to validity and enforceability.
No or contrast
No contract. Do not jump to breach or remedy.
Trap control: Negotiation and intent are not the same as acceptance.
Separate void, voidable, and unenforceable.
Yes or applies
Classify performance status.
No or contrast
Identify whether it never existed, can be avoided, or faces an enforcement defense.
Trap control: Voidable does not mean automatically canceled.
Executory means duties remain. Executed means fully performed.
Yes or applies
Executory contract.
No or contrast
Executed contract.
Trap control: A signature does not make the contract executed in the performance sense.
Assignment, delegation, and novation do different work.
Yes or applies
Identify rights, duties, consent, and release.
No or contrast
Keep the original parties and obligations.
Trap control: Assignment does not automatically release the original party.
Read timing, materiality, tender, and conditions.
Yes or applies
Move to remedy analysis.
No or contrast
Continue toward performance, expiration, or agreed discharge.
Trap control: A condition not occurring is not always a party's breach.
Performance, agreement, breach remedy, expiration, impossibility, or operation of law.
Yes or applies
Match the ending or remedy to the facts.
No or contrast
The contract may still be active and executory.
Trap control: Rescission and specific performance point in opposite directions.
| Term | Meaning | Keep it separate from |
|---|---|---|
| Void | No legal contract from inception. | Not merely subject to cancellation. |
| Voidable | Operates unless the protected party elects to avoid it. | The protected party may choose enforcement. |
| Unenforceable | An agreement exists but a defense blocks court enforcement. | Not identical to void. |
| Executory | One or more material duties remain. | Can already be signed. |
| Executed | All promised performance is complete. | Does not merely mean a document bears signatures. |
Stem: A buyer and seller sign a valid purchase agreement today. Inspection, financing, closing, and delivery of the deed remain.
Answer: The contract is valid and executory.
Why: Signing establishes the agreement, but the promised transaction has not been fully performed.
Answer: Voidable.
Explanation: The protected party may generally avoid the agreement; it is not automatically void from inception.
Answer: Assignment.
Explanation: Novation requires a new agreement that substitutes and releases.
Answer: Specific performance.
Explanation: The remedy compels promised performance rather than unwinding the agreement.
You are ready to move on when you can travel the map without the labels, explain each contrast in your own words, and answer all three check questions for the rule rather than by recognition.
Complete the contracts hub, then return for a mixed practice set after a 24-hour gap.