Question

Answer the following questions.

1. Discuss the elements necessary for an effective offer?  Detail each element.

2. What distinguishes a bilateral contract from a unilateral contract? Give a fact pattern for each.

3. How do capacity and legality play a role in contract law? Cite an example for each and explain how a court would approach deciding a case where capacity and a case where legality was at issue.

4. What are the rules used by Courts regarding the interpretation of contract terms? In other words, if the parties to a lawsuit are debating about what parts of a contract mean or say, how can the court come to a decision and decide how to interpret that?  

5. With is the difference between a unilateral mistake and a mutual mistake? When could a unilateral mistake result in a contract being voidable? Explain.

Answer 1

Since you have posted multiple quetsions. I am going to answer quetsion1, I hope it helps. Thanks)

1. An offer is an condional commitment to perform or restrain from performing a particular action. The elements necessary for an effective offer is Intention to make offer, definiteness of terms, communication of offer.\

Intention: A serious objective intention of teh offerer is essential for an offer to become effective.

Definitness: The terms of an offer must be defined properly.

Communictaion: The offeror must communicate the offer to the offeree.