LAW204 Unit 5 ass

Quoted Definition with Citation Definition (in your own words) Example Offer The offer is the critical “first step in the contract formation process. An offer states, “This is it—if you agree to these terms, we have a contract.” The person who makes an offer (the offeror) gives the person to whom the offer is made (the offeree) the power to bind the offeror to a contract simply by accepting the offer. But not every proposal qualifies as an offer.” (Prenkert et al., 2022) Some proposals are vague, for example, made in jest or thrown out merely to open negotiations. “To distinguish an offer, courts look for three requirements. First, they look for some objective indication of a present intent to contract on the part of the offeror. Second, they look for specificity, or definiteness, in the terms of the alleged offer. Third, they see whether the alleged offer has been communicated to the offeree.” (Prenkert et al., 2022) A promise to do or not do something in exchange for something else is delivered in a fashion that conveys a reasonable person to expect that they are bound to the terms within the said contract should they accept them. Dear sarah ramos, It is with great pleasure that I would like to extend the following employment offer. Position: Graphic Designer Start date: July 31, 2023 Salary: $18.00 per hour This employment offer is contingent upon successfully completing a background check, drug screening, reference check, and I-9 form. This offer is not a contract of employment, and either party may terminate employment at any time, with or without cause. Sincerely, Fedex print Acceptance “a manifestation of assent to the terms [of the offer] made by the offeree in the manner invited or required by the offer.” (Prenkert et al., 2022) Accepting the terms of the contract binding the offeree to the terms set by the offeror Dear beth, Thank you for this opportunity to work with fedex office. I have reviewed the offer of employment, and I am pleased to accept the terms and conditions outlined in it. Thank you again for this opportunity. Warm regards, sarah ramos Bilateral Contract “In a bilateral contract, both parties exchange promises, and the contract is formed as soon as the promises are exchanged.” (Prenkert et al., 2022) Bilateral contracts are agreements between two parties in which each party agrees to fulfill a respective obligation. Employment contracts, warranties, and leases are examples of Bilateral contracts. Unilateral Contract In a unilateral contract, only one party makes a promise in exchange for something specific. (Prenkert et al., 2022) Unilateral contracts are created by an offer that can only be accepted via performance. “Perks Café issues “frequent buyer” cards to its customers and stamps the cards each time a customer buys a cup of coffee. Perks promises to give a customer a free cup of coffee if the customer buys 10 cups of coffee and has his “frequent buyer” card stamped 10x. In this case, Perks has made an offer for a unilateral contract, a contract that will be created with a customer only if and when the customer buys 10 cups of coffee and has his card stamped 10x.” (Prenkert et al., 2022) Promissory Estoppel Remedy “developed to aid courts in dealing with the unfairness that sometimes results from the strict Judicial remedy for breaching contract terms, preventing a party from breaking their promises, An employer promises to pay employees $25 dollars an hour, but on payday, compensation