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8 Cards in this Set
- Front
- Back
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What is a Contract? |
Is a legally binding agreement that can be enforced in a court of law. |
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List the first three elements of a legally binding agreement? |
Offer, Acceptance and Considerations. |
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How can an offer be done? |
Verbally, In writing and by conduct. |
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How can an offer be terminated? |
Revoked, not accepted, Rejected. |
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Acceptance means |
The other person agrees to all the terms of the original offer. |
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Consideration |
This provides evidence of a contract. |
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Consent to contract |
this element of the contract must be genuinely and freely given. |
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Capacity to contract |
the people agreeing to the contract must have the legal right to do so. |
