Law Chapter 7-8 Vocab

offeror promises something in return for the offeree's performance and indicates that this performance is the way acceptance must be made

• offeree
• fraud
• duress
• unilateral contract

in contracts, this occurs when a party to whom an offer has been made agrees to the proposal

• firm offer
• mutual mistake
• acceptance
• mirror image rule

objective legal test used by jurors or judges to determine whether the offeror has shown an intent to contract

• innocent misrepresentation
• test of the reasonable person
• unilateral mistake
• ratification

offeree can accept offer by giving a promise to the offeror instead of performing the contracted-for act

• bilateral contract
• offeree
• firm offer
• fraud

withdrawing an offer before it is accepted

• ratification
• voidable contract
• material fact
• revocation

separate contract arising when the offeree gives the offeror something of value in return for a promise to leave an offer open

• option
• material fact
• offeree
• rescission

agreement that courts will enforce

• offer
• contract
• material fact
• test of the reasonable person

party who makes an offer to form a contract

• unilateral mistake
• fraudulent misrepresentation
• offeror
• counteroffer

offeree's response to an offer which modifies it

• counteroffer
• undue influence
• rescission
• voidable contract

party to whom an offer is made

• genuine assent
• material fact
• test of the reasonable person
• offeree