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SHORT ANSWERS: - 10 pts each 1. A contract can be defined as a legally enforceable agreement between two or more competent people. What are

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SHORT ANSWERS: - 10 pts each 1. A contract can be defined as a legally enforceable agreement between two or more competent people. What are the five fulfill definite requirements for a contract? Two important requirements are offer and consideration. An offer expresses the willingness of the offeror to enter into a contractual agreement. If so, how? Explain how the party must be supported by consideration

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