Lesson 460 of 1524
Contract Law
The key to a contract is that there must be an offer, and acceptance of the terms of that offer.
Practice this chapterThe key to a contract is that there must be an offer, and acceptance of the terms of that offer. To be considered enforceable by law, a contract must contain several elements, including offer and acceptance, genuine agreement, consideration, capacity, and legality
An offer is a proposal made to demonstrate an intent to enter a contract. A contract is defined as an agreement between two or more parties that is enforceable by law
contract — defined as an agreement between two or more parties that is enforceable by law. key to a contract — that there must be an offer, and acceptance of the terms of that offer. offer — a proposal made to demonstrate an intent to enter a contract.
Worked example
What does “contract” mean in Contract Law?
- 1Use the wording this chapter gives for contract.
- 2The book says: defined as an agreement between two or more parties that is enforceable by law.
- 3Do not use the meaning of key to a contract. That term means that there must be an offer, and acceptance of the terms of that offer.
Result: defined as an agreement between two or more parties that is enforceable by law
Why. That is the meaning this chapter gives for contract.
Do not swap contract and key to a contract. contract means defined as an agreement between two or more parties that is enforceable by law. key to a contract means that there must be an offer, and acceptance of the terms of that offer.
Practice margin
This chapter
A fresh set from this chapter only. Choose 10 or 20. Multiple choice and fill-in, with no repeat inside the set.