Principles of Business * Fall Semester 2024

A legally binding agreement between two or more people or businesses

• Contract
• Offer
• Acceptance
• Consideration
• Capacity

A proposal to provide a good or service.

• Contract
• Offer
• Acceptance
• Consideration
• Capacity

All parties involved must agree to the terms of the contract.

• Contract
• Offer
• Acceptance
• Consideration
• Capacity

Something of value must be promised in return.

• Contract
• Offer
• Acceptance
• Consideration
• Capacity

A person is legally able to enter into a binding agreement.

• Contract
• Offer
• Acceptance
• Consideration
• Capacity

Regulates how contracts are written, executed, and enforced.

• Contract Law
• Breach of Contract
• Sales and Service Contract
• Lease
• Employment Contract

Is when one or more parties do not follow the agreed terms of a contract without reason.

• Contract Law
• Breach of Contract
• Sales and Service Contract
• Lease
• Employment Contract

Lists the goods or services provided by a business and the price the customer paid in exchange.

• Contract Law
• Breach of Contract
• Sales and Service Contract
• Lease
• Employment Contract

Contract to rent something.

• Contract Law
• Breach of Contract
• Sales and Service Contract
• Lease
• Employment Contract

Describes the terms of employment between a business and an employee.

• Contract Law
• Breach of Contract
• Sales and Service Contract
• Lease
• Employment Contract