Contracts

In general terms, a valid contract requires offer, acceptance, and consideration. An offer is made by an outward manifestation or the offeror, and may contain language as to what is required for acceptance. Acceptance is made by the offeree, and in many instances actions, payment, or performance can be considered valid acceptance. Consideration can come in the form of payment or performance. Promissory Estoppel however allows for promises without consideration if certain terms are met. [ . . . ]