Topic 3- Contract Law

A person who makes an offer.

the violation, without legal excuse, to perform contractual obligation

legally binding agreement between two or more parties that create mutual obligations enforceable by law.

is the activity and exchange of selling and buying of goods, services, property, etc.

a person that regularly deals in transactions involving certain types of goods or holds himself out as having special knowledge about those goods.

is an offer in response to an initial offer.

is the course of action that someone is required to do to meet the terms or a contract or agreement.

is a person to which the offer is made for.

Businesses and consumers use contracts daily.

• True
• False

All contracts must go through a contract lawyer before it’s legal.

• True
• False