Chapter 4.2 Vocab

A __________ legally enforceable agreement between two or more people.

A (n) _________ is an invitation to enter into a contract that is made with serious intent by one person to another person.

________ is when a person accepts the terms of an offer.

A _______ _______ is a new offer that changes the original offer.

When something of value exchanged for something else of value is is called __________.

The competence (legal ability) of parties to enter into a contract is called _________.

A process in which a public notary verifies the signature of a person who signs a document is called _________.

A law in every state which requires that some contracts must be in writing to be enforceable is called a ________ __ _____.

A(n) ___________ is an instrument that is legally collectible.

A _________ is a person who promises to pay the debt of another person.