II _ An Offer is the critically important first step in the contract formation process. An offer says, in effect: "This is itlfyou agree to these terms: we have a contract." The person who makes an offer (the offeror) gives the person to whom she makes the offer (the offeree) the power to bind her to a contract simply by accepting the offer _ O: "hat does this "Offer" definition (above) mean? Please give an example with a good expla nation. 2 An Acceptance is "a manifestation of assent to the terms [of the offer] made by the offeree in the manner invited or required by the offer. 1 In determining if an offeree accepted an offer and created a contract: a coun will look for evidence of three factors: (1) the offeree intended to enter the contract: (2) the offeree accepted on the terms proposed by the offeror: and (3) the offeree communicated his acceptance to the offeror _ O: "hat does this "Acceptance" definition (above) mean? Please give an example with a good explanation. 3 _ A common definition of Consideration is legal value: bargained for and given in exchange for an act or a promise. Thus: a promise generally cannot be enforced against the person who made it (the promisor) unless the person to whom the promise was made (the promisee) has given up something of legal value in exchange for the promise. O: "hat does this "Consideration" definition (above) mean? Please give an example with a good explanation. 4. Forbearance to Sue An agreement by a promisee to refrain, or forbear: from pursuing a legal claim against a promisor can be valid consideration to support a retum promiseusually to pay a sum of moneyby a promisor. O: "hat does this "Forbearance to sue" definition (above) mean? Please give an example with a good explanation.