| A | B |
|---|
| mutual (genuine) assent | Complete agreement by all persons entering into a contract. |
| implied | A warranty that is assumed to exist. |
| legally collectible | The meaning of the term "negotiable instrument". |
| co-signer | One who agrees to pay a note if the maker does not pay. |
| maker | The person who creates and signs a note. |
| payee | The person to whom a note is made payable. |
| promissory note | A written promise to pay on a specified date. |
| solvent | A person is ________ if he/she can pay all bills as they are due. |
| express | A contract that is in words - oral or written. |
| counteroffer | A new offer based on rejection of part or all of the original offer. |
| competent parties | Persons who are legally able to give sane and intelligent consent and enter into contracts. |
