Contracts Written Assignment Contracts Chapters 13, 14 15 18 & 20 (see below) There are 3 parts to this assignment. Part I Definitions: Please define and give examples for all the terms listed below. Use your own words to explain the term. Do not just copy from the text or internet. Write a complete and clear explanation for each term. Use the text and other sources to understand the concept and come up with your own ideas. Be creative. Think of interesting examples. Remember the topic is CONTRACTS. Make sure your examples apply to the term as it relates to Contract Law. K=Contract *Bilateral K *Unilateral K *Void K *Voidable K *Express K Agreement Offeror Offeree *Consideration in a K (Chap. 15) *Past Consideration *Pre-existing duty (p. 375) *Implied (in-fact) K (P. 331-333)*Implied (in-law)/Quasi K *Promissory Estoppel (refer to Chap. 18 p. 442) *The Parole evidence rule (p. 443) Illegal K *Illusory K *Disafrm a K by a minor (chap. 16 ) *Ratication of a K by a minor (chap. 16 ) *Injunction ( Chap. 20 p. 498 Do not use a restraining order as an example for this term. which is a type of injunction against a person. Use an example of an injunction prohibiting an action, e.g. an injunction prohibiting your neighbor to cut down your tree) *Specic Performance (Chap. 20 498 & Chap. 24 p.578) *Rescission (Chap. 20 p. 497) *Statute of Frauds-Make sure to dene this term and list all the types of contracts that must be in writing under this rule. Explain each category in l or two sentences. (There should be 6-? categories) Part II Draft a contract between yourself and anyone else. It can any type of contract you wish (e.g. to buy or sell a product, to perform a service etc.). List the basic terms of the contract. Indicate the following: The Offeror The Offeree, The Consideration Is the contract bilateral or unilateral? Is the contract express or implied. Does this contract have to be in writing under the statute of frauds? Explain Part III Read the excerpt of the Taco Bell Case (Wrench LLC v. T aco Bell), 1. What were the facts of the case? 2. Explain the facts that established that there was an implied contract between the plaintiffs and defendant. What actions of the defendant was evidence of an implied in fact contract? 3. If you were the judge in the case would you have found that there was an implied contract? Explain why or why not