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Business Law - 4.01 Vocab

AB
OfferProposal
ValidLegally good
ConsiderationSomething of value is exchanged
CapacityExcuse for minors
ExpressContract stated in words
UnenforceableCannot be enforced
BilateralTwo promises
ImpliedContract comes from actions
LegalityIllegal contract
Genuine AgreementOffer and acceptance go together
AcceptanceAgreement
VoidableCan be voided by one party
UnilateralOne promise
VoidNo legal force


Business Teacher
East Surry High School

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