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.