📌 Commercial agreements are enforceable, whereas personal, moral, social, and religious agreements are not enforceable.
1. Which statement best explains why an agreement is not necessarily a contract?
2. What is an offer in contract law?
3. Which example fits the distinction that commercial agreements are enforceable while personal or moral agreements are not?
What two elements make up a promise in contract law?
An offer and acceptance.
What two elements form an agreement in contract law?
A promise and consideration.
What defines a contract in legal terms?
An agreement enforceable by law.
What is an offer in contract law?
A person's willingness to act or abstain to get another's consent.
What are reciprocal promises?
Promises that serve as consideration for each other.
Which agreements are enforceable: commercial or personal?
Commercial agreements are enforceable.
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