Question: 1. What are the four basic elements necessary to the formation of a valid contract? 8-2 pg 209 2. How does a void contract differ

1. What are the four basic elements necessary to the formation of a valid contract?

8-2 pg 209

2. How does a void contract differ from a voidable contract?

8-2 pg 212-213

3. What is an unenforceable contract?

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4. What are the elements that are necessary for an effective acceptance?

8-2 pg 212

5. How do shrink-wrap and click-on agreements differ from other contracts?

8-2pg 215

6. How have traditional laws been applied to these agreements?

8-2 pg 224

7. What is consideration?

8-2 pg 209

8. What is required for consideration to be legally sufficient?

Value Hammer v Sidway 1891

1. How do you determine if a person or business has capacity to contract?

2. Does a minor have the capacity to enter into an enforceable contract?

3. What does it mean to disaffirm a contract?

4. Under what circumstances will a covenant not to compete be enforced?

5. When will such covenants not be enforced?

6. What is an exculpatory clause?

7. In what circumstances might exculpatory clauses be enforced?

8. When will they not be enforced?

9. What is the difference between a unilateral and a bilateral mistake?

10. What contracts must be in writing to be enforceable?

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