The word ___ means legally good. Thus a ____ contract is one that is legally binding.
What is valid?
100
The six elements of a contract form the heart of ____ law.
What is contract?
100
A person who receives an offer is the...
What is the offeree?
100
The law presumes that anyone entering a into contract has the legal ____ to do so.
What is capacity?
200
Means that the agreement is true and genuine: valid offer is met by a valid acceptance
What is genuine agreement?
200
An _____ contract is one that comes about from the actions of the parties.
What is implied?
200
Is the person who makes an offer
What is an offeror?
200
The rule which states that the terms stated in the acceptance must exactly match the terms of the offer.
What is the mirror image rule?
200
Parties are not allowed to enforce contracts that involve ___ acts.
What is illegal?
300
A proposal by one party to another intended to create a legally binding agreement
What is an offer?
300
It is a contract that contains a promise by only one person to do something, if and when the other party performs some act.
What is a unilateral contract?
300
Invitations to deal, trade or make an offer are called....
What is an invitation to negotiate?
300
Is a response to an offer in which the terms of the original offer are changed.
What is a counter offer?
300
Is a contract that contains two promises.
What is bilateral?
400
The law presumes that anyone entering a contract has the legal _____ to do so
What is capacity?
400
It is a contract the court will not uphold, generally because of some rule of law, such as a statute of limitations.
What is an unenforceable contract?
400
An offer must be made with the intention of entering into a legal obligation. This is known as....
What is serious intent?
400
Is taking back of an offer by the offeror.
What is revocation?
400
The ____ at which an acceptance takes place is important because that is when a ______ comes into existence.
What are time and contract?
500
It is the thing of value promised to one party in a contract in exchange for something else of value promised by the other party. The mutual exchange binds the parties together.
What is consideration?
500
Is a contract that may be oral or written.
What is an express contract?
500
An offer must be _____ and certain to be enforceable.
What is definite?
500
Is a refusal of an offer by the offeree that brings the offer to an end.
What is a rejection?
500
If the offeror ____ or becomes ____ before the offer is accepted, the offer comes to an end.