9. TIF Consideration must be bargained for and have legal value. Legal value is determined by the economic value of the promised performance 10. TIF Contracts to do something that is illegal are void and courts will never enforce them or provide any remedies for any of the parties, who are considered by the courts to be equally at fault 11. TIF Damages that compensate the non-breaching party for the loss of the bargain are known as expectation damages 12 T/F The requirement that consideration is the result of a bargained for exchange between the parties means that each party must give up something having legal value in order to obtain something of legal value from the other party 13. TIF A person who is a minor when entering into a contract may disaffirm the contract while a minor and for a short period of time after reaching the age of majority 14. TIF Additional or different terms included in the attempted acceptance of a common law contract offer make the acceptance a counter-offer and rejection of the offer. 15. T/F The following facts illustrate a valid acceptance of an offer to form a contract C offered to pay B $15,000 to write a business plan for C's new business if B accepted the offer no later than November 30. The offer specified that B must send the acceptance by express mail. B express mailed the acceptance on November 27, but C did not receive it until December 2 16. TIF Certain contracts must be in writing to satisfy the Statute of Frauds. The writing must be the actual, complete, written contract with all major terms included and signed by both of the parties to the contract. No other written evidence will satisfy the Statute of Frauds 17. T/F The Statute of Frauds states that all contracts for the sale of goods must be in writing 18. T/F The duties of a contract party who has delegated those duties to a 3d party are completely discharged