Contract Law Review

What is a contract?

• Minecraft

• An agreement enforceable by law

• Valid offer

• legal ability to enter a contract

The person who makes the offer

• Offeror

• Offeree

The person to whom the offer is made

• Offeror

• Offeree

The terms of the offer must be _____________ in order for a valid contract to form. Check all that apply!

• Vague

• Definite

• Accepted without change

The ________________ rule is a concept in contract law stating that for an offer to be accepted, the offeree must accept the offer without any modifications or changes.

• No change rule

• Mirror image rule

• Boomerang rule

• Consideration rule

An offer which is made to a specific person. In this case, the person to whom the offer is made is only able to accept the offer.

• Express

• General

• Implied

• Specific

When an offer is made to the public at large. This offer may be accepted by anyone.

• Express

• General

• Implied

• Specific

This type of contract is created when two or more parties have no written contract, but the law creates an obligation in the interest of fairness based on the parties' conduct or circumstances.

• Express

• Implied

When an offer is made by words: spoken or written

• Express

• General

• Implied

• Specific

An offer made in response to a previous offer by the other party. For example: Jo offers to sell Jana a tv for $100. Jana replies "No, but I will take it for $75".

• Counteroffer

• Express

• General

• Implied

• Specific