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I AM SO GOING TO RIP YOU OFF!!

 

That is, if you don't know the "BIG 4$"


Offer:

A explicit proposal to contract which, if accepted, completes the contract and binds both the person that made the offer and the person accepting the offer to the terms of the contract.

 

DuHaime, L. (2013, December). Offer Definition:. Retrieved March 19, 2016, from http://www.duhaime.org/LegalDictionary/O/Offer.aspx


Acceptance:

The final and unequivocal expression of assent to another's offer to contract.

DuHaime, L. (2013, December). Offer Definition:. Retrieved March 19, 2016, from http://www.duhaime.org/LegalDictionary/A/Acceptance.aspx

 


Capacity:

the legal competence of a person to enter into a valid contract.

 DuHaime, L. (2013, December). Offer Definition:. Retrieved March 19, 2016, from http://www.duhaime.org/LegalDictionary/C/Capacity.aspx

 


Consideration:

Some right, interest, profit or benefit accruing to the one party of a contract, or some forbearance, detriment, loss or responsibility given, suffered or undertaken by the other.

DuHaime, L. (2013, December). Offer Definition:. Retrieved March 19, 2016, from http://www.duhaime.org/LegalDictionary/C/Consideration.aspx


Define Offer (in your terms)

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Define Acceptance (in your terms):

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Define Capacity (in your terms):

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Define Consideration (in your terms):

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What are the "Big 4" in terms of contract law?

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