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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