Unqualified willingness by the offeree to go along with the offer

Proposal by one party to another with intent to create a legal binding agreement

Offer made to this person

Makes the offer

Taking back of an offer by offeror

Rejection is defined as...

Counteroffer is defined as...

If the offeror puts a time limit on the offer and it has passed

The offeree gives the offeror something of value in return for a promise to keep the offer open for a set period of time

Acceptance

Offer is accepted by offeree through communication of the promise to the offeror

Silence as Acceptance is defined as..

A valid offer has been made by the offeror, and a valid acceptance has been exercised by the offeree

Undue Influence is defined as..

Unilateral Mistake

______________- is Innocent Misrepresentation

Untrue statement of fact

Legal ability to enter into a contract

___________________ is Illusory Promises

Illegal Contracts

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