Contract

Contract

1. acceptance

   • offeree doesn't agree with the offer
   • benefits
     • something a party was not entitled to get earlier.
     • bilateral
       • has two promises.
       • capacity
         • legal ability to enter into a contract.
         • duress
           • overcoming someones free will by force or threat or bodily harm.
           • firm offer
             • a written offer offer goods that states the period of time during which the offer will stay open.
           • implied
             • contract that comes about from the actions of the parties.
   • detriments
     • any loss suffered or anything given up.
     • economic duress
       • threats to someones income or buisness.
       • insanity
         • offeror is declared insane.
     • express
       • contract statement that may be written or oral.

2. consideration

   • exchange of benefits and detriments by the parties to an agreement.
   • counteroffer
     • change in the terms of the offer.
     • death
       • offerer dies
       • offeror dies
       • emancipation
         • serving of the parent-child relationship.