Paralegal Prep questions with 100% correct answers 2023

Paralegal Prepcontract - correct answer In legal terms, a contract is bargained for consideration quid pro quo - correct answer something for something Consideration - correct answer material cause of the contract a contract must include several elements - correct answer Mutual consent An offer An acceptance Manifestation of assent Mutual consideration Performance or Delivery Mutual Consent - correct answer all parties to a contract must understand what it means Offer - correct answer initiates a contract Acceptance - correct answer requires three things from the acceptor: an intent to be bound by the terms of the offer an unconditional manifestation that the acceptor intends to be bound to the offer's terms a mutual agreement of the parties. Manifestation of Assent - correct answer It's essential that both parties understand that they must abide by the terms of the contract Mutual Consideration - correct answer Value given by both parties