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10 Cards in this Set

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