Question
Listed below are some technical terms introduced in our course: Tendor Unilateral Contract Anticipatory Breach Acceptance Actual Breach Bilateral contract Agent Bid Beneficiary Each of
Listed below are some technical terms introduced in our course:
Tendor | Unilateral Contract | Anticipatory Breach |
Acceptance | Actual Breach | Bilateral contract |
Agent | Bid | Beneficiary |
Each of the following statements may (or may not) describe one of these technical terms. In the space provided next to each statement, indicate/choose the term described, or selece "None" if the statement does not correctly describe any of the terms.
- Agreement by offeree to do what offeror requests in offer
- When one party fails to perform the obligations required by a contract
- One who represents another in making business transactions
- Recipient of the proceeds of a life insurance policy; one who inherits property as specified in a will
- Offer made at an auction
- Contract in which one party makes a promise in return for a promise made by another party
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