renewal based on her performance. Delores accepts the offer. A valid contract requires
and an acceptance.
Jonah tells Levi he will give him an Xbox if Levi does Jonah’s chores for a month. Levi promises to
do the chores. Jonah and Levi have formed a
a bilateral contract.
Wilson buys a lottery ticket at his local gas station. Wilson has accepted an offer for a
A letter-of-credit agreement between Rural Feed Corporation and Soybean Farms, Inc., requires
Rural Feed’s bank to pay Soybean Farms on receipt of invoices. This letter of credit is
Following negotiations, Office Park, Inc., enters into an informal contract with Quality Janitorial
Company for custodial services for Office Park’s buildings. This means that the parties’ contract
requires no special form.
When Hester’s car breaks down, she asks Insta-Tow, Inc., to tow it to Jerry’s Repair Shop. There is
no discussion of a price, and Hester and Insta-Tow do not sign any documents. Later, Insta-Tow
sends Hester a bill. With respect to Hester’s obligation to pay the bill, this is
an implied contract.
Bilbo signs a lease agreement for an apartment with Cato, who owns and manages the Deer
Creek Apartments complex. These parties have
an express contract.
Avatar, Inc., agrees to deliver t-shirts emblazoned with video game characters for a certain price
to Bling Bling Corporation. To constitute a contract, the terms of this deal
may be express,
implied, or a mixture of both