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Unit 4 Contract Law

TermDefinition
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.
Created by: cjgibson