Answer the following questions. 1. Discuss the elements necessary for an effecti

Question

Answer the following questions.

1. Discuss the elements necessary for an effective offer?  Detail each element.

2. What distinguishes a bilateral contract from a unilateral contract? Give a fact pattern for each.

3. How do capacity and legality play a role in contract law? Cite an example for each and explain how a court would approach deciding a case where capacity and a case where legality was at issue.

4. What are the rules used by Courts regarding the interpretation of contract terms? In other words, if the parties to a lawsuit are debating about what parts of a contract mean or say, how can the court come to a decision and decide how to interpret that?  

5. With is the difference between a unilateral mistake and a mutual mistake? When could a unilateral mistake result in a contract being voidable? Explain.

Explanation / Answer

(1) must be serious, objective intention by the offeror

(2) Terms of the offer must be reasonably certain, or definite, so that the parties and the court can ascertain the terms of the contract

(3) The offer must be communicated to the offeree

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