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Unformatted text preview: if it is with a minor, a person that is not competent, or something illegal was committed in the contract. A Voidable Contract is if it was with a minor or if it was adjudicated. Offers: The offer or offers must be definite and certain, communicated, and enforceable the obligation. Acceptance: Acceptance is again, communicated, and a method of communication. Communication can be by mail, registered mail, email, telephone, FAX, text, etc. Silence can be an acceptance. Serena Sandoval BUSN 115 DeVry of Anaheim Effective: Effective can be by a due date or the mail box rule. The mail box rule is the post mark of when it was sent. Counter Offer: This can be a change of terms or termination of offer: there was a lapse of time (prudent person), revocation (other party withdrew), or rejection. Defective Agreement: This can happen when there was a fraud in the contract, a fraudulent activity, a mistake, under duress (feel obligated), or the person was not in a proper state. 2...
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This note was uploaded on 11/27/2011 for the course BUSN 319 taught by Professor Amanda andres during the Spring '11 term at DeVry Long Beach.
- Spring '11
- Amanda Andres