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Unit 4 Contract Law
Term | Definition |
---|---|
offeror | The person who makes an offer to enter into a contract. |
offeree | The person who either accepts or declines an offer to enter into a contract. |
offer | The offeror makes a proposal indicating a willingness to enter into a contract. |
acceptance | The offeree agrees to accept what has been offered by the offeror. |
genuine agreement | A contract that is sincere and considered true. |
capacity | When someone is legally able to enter into a contract. |
consideration | When both parties in a contract receive something of value. |
legality | A contract does not violate a law. |