| A | B |
|---|
| Contract | An agreement enforceable by law |
| mirroir Image rule | acceptance must not change the terms of the original offer in any way |
| counteroffer | another offer is being made |
| consideration | is the exchange of things of value |
| capacity | Minors are excused from contractual responsibility |
| legality | Others involve activities made illegal by statutory law |
| acceptance | The agreement of the offeree to be bound by the terms of the offer |
| invitation to negotiate | advertisements i newspapers, magazines, and catalogs |
| genuine agreement | The mutal exchange binds the parties together |
| revocation | taking back of an offer |
| rejection | refusal of an offer by the offeree |
| offer | proposal by one party to another intended to create a legally binding agreement |
