Asked by Brooke Jefferson on Jul 22, 2024
Verified
Under the common law,the agreement begins when one party,the offeror,makes an offer to another party,the offeree.
Common Law
A body of unwritten laws based on legal precedents established by the courts, as opposed to statutes or regulations enacted by legislative bodies.
Offeror
The person or entity who makes a proposal or offer in a contract negotiation.
Offeree
The party to whom an offer is made in a contract situation.
- Apprehend the critical principles that govern the formation of contracts, including offer, acceptance, and consideration.
Verified Answer
MM
Mathis MazurekJul 28, 2024
Final Answer :
True
Explanation :
The first element of a contract is the agreement.Under the common law,the agreement begins when one party,the offeror,makes an offer to another party,the offeree.
Learning Objectives
- Apprehend the critical principles that govern the formation of contracts, including offer, acceptance, and consideration.