Part 1

Select 10 words from the list below. For each of the 10 you selected Define the word and then write one personal sentence to demonstrate your understanding by accurately using the word in the sentence.

1. Contract
2. Agreement
3. Offer
4. Acceptance
5. Consideration
6. Legal object
7. UCC
8. Bilateral contract
9. Unilateral contract
10. Quasi-contract
11. Valid
12. Void
13. Voidable
14. Promissory Estoppel
15. Illusory promise
16. Material breach
17. Compensatory damages
18. Consequential damages
19. Punitive damages

Part 2

Select and fully respond to 3 questions from the list below.

1. Define what a contract is.
2. Identify the sources of contract law.
3. Explain the elements of a valid contract: including a valid offer and valid acceptance.
4. Explain what consideration is.
5. Define an illusory promise.
6. Explain what promissory estoppel is and when can it be used.
7. Describe the primary legal remedies available for a breach of contract.

Please type unless you have good handwriting.