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MULTISTATE BAR CONTRACTS EXAM 2024
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MULTISTATE BAR CONTRACTS EXAM 2024 What is required for a binding contract? - correct answer A binding contract requires: (1) manifestation of mutual assent, (2) consideration, and (3) lack of valid defenses. Define Offer. - correct answer An objective manifestation of a willingness by the offeror to enter into an agreement that creates power of acceptance in the offeree. When is a statement an offer? - correct answer When: (1) the person to whom the statement is communicated could reasonably interpret it as an offer and (2) the statement expresses present intent of a person to be legally bound by the contract. The offer
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