LE_Presentation

How many steps must be followed to establish a contract?

• 1

• 2

• 3

• 4

What kind of contract that clearly stated by the parties, either orally or in writing and contains the terms of the contract ?

• express contract

• implied contract

• Both A and B

A legally binding agreement that is formed through the conduct of the parties involved is a kind of:

• express contract

• implied contract

• both A and B

Before the offeree agrees to it, the offeror alters their opinion and withdraws it, what is called?

• cancel

• counteroffer

• revocation

the exchange of something of value between two parties in a contract

• Consideration

• Breach of contract

• Counter offer

Situation: A customer asks a salesperson for a discount on a product

• invitation to negotiate

• invitation to deal

• consideration

• breach of contract