Question 7 Match each definition with the correct term. competent party consideration executed contract executory contract express contract implied contract legality of purpose mutual agrecement voidable contract void contract A person who is of legal age and normal mentality 10pts The promises exchanged by parties to a contract An exchange of promises where terms by which the parties agree to be bound are declared either orally or in writing, or a combination of both, at the time it is made. A contract that has not yet been completed by both parties. A contract hta has been fully completed by both parties A contrat that lacks an essential elementa and hence was never legally a contract A contract that allows the incompetent party to withdraw A legally-binding obligation that derives from actions, conduct, or circumstances of one or more parties in an agreement. The requirement that a contract cannot violate the law