Quiz 10: Agreement and Consideration
If Jennifer Receives a Catalog in the Mail and Sees
If Jennifer receives a catalog in the mail and sees an item she wants priced at $100,because the catalogue is in writing the $100 price is considered an offer which she can accept.
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The person to whom the offer is made is called the offeree.
The intent to enter into a contract is determined using the subjective theory of contracts.
The objective theory of contracts asks whether a reasonable person,viewing the circumstances,would conclude that the parties intended to be legally bound.
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