Question: 1. Define the four elements of a valid contract. 2. Describe the two main sources of contract law. 3. Analyze the difference between a bilateral

1. Define the four elements of a valid contract.

2. Describe the two main sources of contract law.

3. Analyze the difference between a bilateral and an unilateral contract.

4. List the three conditions of an implied contract. Give an example of a valid implied contract.

5. What are the three elements for a valid offer?

6. Explain 5 ways an offer may be terminated.

7. Can silence be considered the acceptance of an offer? Why?

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