3.1 Legal Enviornment

Legally binding agreement between two or more people or businesses

• Deal

• Contract

• Offer

• Agreement

Element of a contract that is a proposal to provide a good or service

• Offer

• Acceptance

• Consideration

• Contract

Element of a contract stating that all parties involved must agree to the terms of contract.

• Offer

• Consideration

• Agreement

• Acceptance

Element of a contract stating that something of value must be promised in return.

• Money

• Consideration

• Acceptance

• Capacity

A person is legally able to enter into a binding agreement

• Capacity

• Consideration

• Partner

• Offer

Regulates how contracts are written, executed, and enforced.

• Lawyers

• Commerce

• Agreements

• Contract Law

When one or more parties do not follow the agreed terms of a contract without having a legitimate reason.

• Fulfillment

• Lease

• Breach of Contract

• Liar, liar, pants on fire!

Lists the goods or services provided by a business and the price the customer paid in exchange.

• Sales and Service Contract

• Lease

• License

• Acceptance

Contract to rent something

• Bill

• Lease

• Mortgage

• Recall

Describes the terms of employment between a business and an employee.

• Employment contract

• Contract law

• Partnership

• On Demand