Contract

Nota:

• offeree doesn't agree with the offer

1. benefits

   Nota:

   • something a party was not entitled to get earlier.
   1. bilateral

      Nota:

      • has two promises.
      1. capacity

         Nota:

         • legal ability to enter into a contract.
         1. duress

            Nota:

            • overcoming someones free will by force or threat or bodily harm.
            1. firm offer

               Nota:

               • a written offer offer goods that states the period of time during which the offer will stay open.
            2. implied

               Nota:

               • contract that comes about from the actions of the parties.
2. detriments

   Nota:

   • any loss suffered or anything given up.
   1. economic duress

      Nota:

      • threats to someones income or buisness.
      1. insanity

         Nota:

         • offeror is declared insane.
   2. express

      Nota:

      • contract statement that may be written or oral.

Nota:

• exchange of benefits and detriments by the parties to an agreement.

1. counteroffer

   Nota:

   • change in the terms of the offer.
   1. death

      Nota:

      • offerer dies
      • offeror dies
      1. emancipation

         Nota:

         • serving of the parent-child relationship.