QLD quiz 24 Law already passed

Offer - All contracts begin when a person or a company proposes a deal (offeror). Acceptance - Once a party receives an offer, he must respond to it in a certain way (offeree). Consideration - There has to be bargaining that leads to an exchange of value between the parties. Legality - The contract must be for a lawful purpose and comply with the requirements of the law. Capacity - The legal ability to enter into a contract. Consent - Fraud and Mistake may render a contract unenforceable because of a lack of true consent. Writing - Certain kinds of contracts must be in writing to be enforceable. Offer - An offer is an act or statement that proposes definite terms and permits another person to accept the terms and enter into an agreement. What are definite terms? - Price Quantity Date Duration Is This An Offer?