QA 3 LEB

A proposal to do something or pay an amount to another party

• acceptance

• offer

• consideration

• promise

When a party agrees to an offer made by another party. Must be unconditional

• Offer

• Acceptance

• Consideration

• Genuine Agreement

The legal ability to enter into a contract

• Legality

• Genuine Agreement

• Capacity

• Consideration

1. The exchange of Benefits and Detriments relate to

• Capacity

• Consideration

• Capacity

• Acceptance

Something of value offered or exchanged.  It is what each party gives up in order for an agreement to be valid.  Can be money, property, or services.

• Offer

• Acceptance

• Capacity

• Consideration

• Legality

This means that a contract may not involve breaking the law.

• Offer

• Acceptance

• Capacity

• Consideration

• Legality

This means that a legal offer is met with a legal acceptance.  Offer and acceptance go together to create agreement.

• Offer

• Acceptance

• Capacity

• Consideration

• Genuine Agreement

Contract contains a promise by both parties.

• unilateral

• bilateral

• consideration

• tender

If you wait too long to bring a lawsuit about a contract it could be

• enforceable

• unenforceable

• discharged

• defective

To be effective, an offer must be communicated to the __.

• candidate

• offeree

• offeror

• party