| A | B |
|---|
| Acceptance | Unqualified willingness by the offeree to go along with the offer |
| Benefits | Something that a party was not previously entitled to receive |
| Bilateral | Contains two promises |
| Capacity | Legal ability to enter into a contract |
| Consideration | Exchange of benefits and detriments by the parties to an agreements |
| Counteroffer | Any change in the terms of the offer |
| Death | Offeror dies |
| Detriments | Any loss suffered; anything given up |
| Duress | Overcoming a person’s free will by use of force or by threat of force or bodily harm |
| Economic Duress | Threats to a person’s business or income |
| Emancipation | severing of the parent-child relationship |
| Express | Contract statement that may be written or oral |
| Firm Offer | a written offer for goods that states the period of time during which the offer will stay open |
| Forbearance | Not doing something that you have the right to do |
| Fraudulent Misrepresentation | Party to a contract deliberately makes an untrue statement of fact |
| Genuine Agreement | A valid offer has been made by the offeror, and a valid acceptance has been exercised by the offeree |
| Illusory Promises | Clause or wording that allows party to escape from legal obligation |
| Implied | Contract that comes about from the actions of the parties |
| Insanity | Offeror is declared insane |
| Legality | Illegal Contracts |
