Contracts:

FORMATION

• What are the six elements of a contract?
• What is an offer?What is an invitation to treat? Explain and understand the differences between them.
• What ends an offer?
• What is revocation? When can an offer be revoked?
• What is acceptance? What is required in order for an offer to be properly accepted?
• What is consideration? What is a gratuitous promise?
• What promises can be enforceable without the legal element of consideration?
• What is capacity?
• Explain the general legal rules of intention to contract.
• What is the difference between express terms in a contract and implied terms of the contract?
• Explain the difference between "void" contracts and "voidable" contracts.
• What contracts MUST be written in order to be enforceable? What Act governs these types of contracts?
• Explain what it means when a contract is either void or voidable.