Business Law Ch. 9 Questions

Under the common law, which of the following qualifies an acceptance as a valid acceptance?

A valid acceptance requires all three of these elements: Manifestation, Communication, Agreement.

The offer and acceptance together constitute the _________, which is the first element of a contract.

Agreement

Once all the terms of the contract have been fully performed, the contract has been ___________. As long as some of the terms have not yet been performed, the contract is ______________.

Executed; Executory.

The terms of __________ contracts are all clearly set forth in either written or spoken words.

Express.

A bond used as bail in a criminal case is which type of contract?

Formal contract.

Which one of the following is a contract that arises from the conduct of the parties rather than their words?

Implied.

If the odder is for a unilateral contract, the offeree can accept only by

Providing the requested performance.

_______________ are created by the courts to prevent one party from being unjustly enriched at the expense of the other.

Quasi-contracts.

This type of contract is not a contract because either its object is illegal or it has a serious defect.

Void contract.

A(n) ______________ contract is a contract in which one or both parties has the ability to either withdraw from or enforce the contract.

Voidable.