types of contracts
executory executed bilateral unilateral valid : satisfies the laws requirments unenforceable: some rule of law prevents enforcement party voidable : one party can terminate agreement void : neither party can enforce Agreement the party can form a contract only if they had a meeting of the minds an offer is an act or statement that proposes definite terms and permits the other party to create a contract by accepting these terms termination by revocation effective when the oferee receives it form offers and revocability common law rule revocation of a firm offer is effective if the oferee receives it before he accepts option contract the offeror may not revoke an offer during the option period termination by rejection if an oferee rejects an offer, the rejection immediately terminates the offer Termination by expiration when an offer specifies a time limit for accepting the period is binding acceptance the oferee must say or do ...