Question: 1. Which are the essential elements to a common law contract? Money and a writing A writing with detrimental reliance Promissory estoppel Agreement, consideration, capacity

Which are the essential elements to a common law contract?

Money and a writing

A writing with detrimental reliance

Promissory estoppel

Agreement, consideration, capacity and legality

What kind of contract is formed when each party makes a promise in return for the others promise (and all other essential elements of a contract are present)?

Executed

Executory

Unilateral

Bilateral

Consideration, in contracts, can best be described as:

Concern for anothers feelings

The objective theory of contracts

Mutual assent

Something of legal value

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