Aic 301 Glossary Study Guide Graded A+

Offeror {Ans: The party to a contract who promises to give something in return for a promise or an act by another party.}Compensatory damages {Ans: A payment awarded by a court to reimburse a victim for actual harm.}Injunction {Ans: A court-ordered equitable remedy requiring a party to act or refrain from acting.}Executed contract {Ans: A contract that has been completely performed by both parties.}Assignee {Ans: The individual or entity to whom property, rights, or interests have been transferred.}Bad faith {Ans: An insurer's intentional or reckless act (extreme or outrageous in nature) or denial of coverage without proper cause, often causing emotional distress and resulting in extracontractual and/or punitive damages.}