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Legal 2700 Test 2 Vocab | Q&A Latest 2024/2025 | 100% PASS

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Legal 2700 Test 2 Vocab | Q&A Latest 2024/2025 | 100% PASS Acceptance - Answer -a person's compliance with the terms of an offer made by another Accord - Answer -the new performance Accord and satisfaction - Answer -an agreement between two contracting parties that accepts alternate performance to discharge a pre-existing duty between them and the subsequent performance of that agreement Bilateral contract - Answer -an agreement containing mutual promises, both parties exchange promises to perform Capacity - Answer -a person's ability to be bound by a contract / make rational decisions Consideration - Answer -a promise, performance, or forbearance bargained by a promisor in exchange for their promise Counteroffer - Answer -the rejection of an offer to create a new one Covenants not to compete - Answer -an agreement where one party promises not to compete with the other party in a specified area for a certain p

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