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BUSI 301 Business Law Exam 2 Liberty University - Questions with complete solution
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BUSI 301 Business Law Exam 2 Liberty University - Questions with complete solution BUSI 301 Business Law Exam 2 Elements of a Contract - correct answer agreement, consideration, capacity, legality Agreement - correct answer offer and acceptance Consideration - correct answer bargained-for exchange and legally sufficient Capacity - correct answer minor, incompetent, intoxicated Legality - correct answer gambling, crime Guinuiness of Assent - correct answer A mistake or misrepresentation Form - correct answer writing/statute of frauds Oral contracts are binding but it is safer to have it in writing objective standard of contract - correct answer What would a reasonable person conclude? -a judicial construct
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