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10 Cards in this Set
- Front
- Back
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counteroffer
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acceptance that changes the terms of the original offer and terminates the offer
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contract
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any agreement enforceable at law
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valid
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legally good
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void
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having no legal force
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express contract
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stated in words and may be oral or written
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implied contract
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comes about from the actions of the parties
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bilateral contract
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contains two promises - one by each person (two-sided)
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unilateral contract
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contains one promise only (one-sided)
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offer
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a proposal by one party to another party to enter into a contract.
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acceptance
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unqualified willingness to go along with the offer
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