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Identify, define and discuss each of the following. Contract Offer Cause Counter offer Contractual Capacity Fraud Consideration Detrimental reliance Statute of frauds Suspensive Condition Essay.

  1. Identify, define and discuss each of the following.

  1. Contract
  2. Offer
  3. Cause
  4. Counter offer
  5. Contractual Capacity
  6. Fraud
  7. Consideration
  8. Detrimental reliance
  9. Statute of frauds
  10. Suspensive Condition

  1. Essay. Answer the following questions.

  1. What elements must a contract contain in order to be a business transaction with reasonable assurance? Give examples
  2. Why must certain contracts be in writing in order to be valid? Why are other contracts valid without a written agreement? Give examples.

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1 Contract A contract is a legally binding agreement between two or more parties that creates obligations enforceable by law It typically involves an offer acceptance consideration and an intention to ... blur-text-image

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