| unqualified willingness to go along with offer. |
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| legal ability to enter into a contract |
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| exchange of things of value |
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| valid offer met by valid acceptance |
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| contract must not violate statutes |
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| proposal of one party to another |
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| Some contracts are required to be written (such as those dealing with real estate) |
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| Person who make the offer |
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| Person who accepts or rejects the offer |
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| Unfair persuasive pressure on another person |
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| An untrue statement of fact without knowledge |
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| deliberate deception to secure an unfair gain |
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| Mistake by two parties-voids contract |
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| mistake by one party-does not void contract |
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| Threats to a person’s business. |
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| Overcoming a person’s will by force |
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| Ends the offer and makes the offeree the offeror. |
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| What is the minor Image rule |
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| For acceptance can the method be silenced |
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| Party to whom an offer is made |
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| Signed writing by a merchant stating how long it is to stay open. |
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| Response by offeree, with new terms, which ends the original offer. |
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| Requirement that the terms in an acceptance exactly match the terms in the offer. |
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| Affirmative response necessary to transform an offer into a contract. |
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| Contract to leave an offer open for a period of time in exchange for other consideration. |
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| Agreement that is legally effective and enforceable in court. |
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| The person who makes the offer. |
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| Contract that has been fully performed. |
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| Composed of prize, chance, and consideration. |
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| A bet on the outcome of an event. |
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| Exist when some element of an enforceable contract is missing. |
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| License granted only to earn revenue for the licensing body. |
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| License required of professionals certifying they can perform adequately. |
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| Which of the following is not part of the 6 parts of contract? |
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| Severing of the parent-child relationship |
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| Within the range of authorized acts |
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| Goods and services needed to sustain life |
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| State of being unable to understand the consequences of because of alcohol or drugs |
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| Act after regaining capacity indicating intent to be bound by the contract |
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| Ability to understand that a contract is being made and the consequences thereof |
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| Giving back what you have received under a contract and requesting the return of what you gave |
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| Period of time when a young person lacks full contractual capacity |
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| A severe mental illness, retardation, or senility |
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| Either 18, 19, or 21 in most states |
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| One who has not yet reached the age of majoritY |
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