Fill in the correct labels for the following figure using the word bank below.
-M ___________
Definitions:
Valid Contract
A contract that results when the elements necessary for contract formation (agreement, consideration, contractual capacity, and legality) are present.
Unilateral Contract
A contract that results when an offer can be accepted only by the offeree’s performance.
Lottery Ticket
A ticket purchased for the chance to win prizes in a lottery, typically involving the selection of numbers for a potential cash or goods award.
Lacks Voluntary Consent
A situation where agreement or permission is given under duress, coercion, or misinformation, undermining the validity of a contract or decision.
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