Indicate Whether Each of the Following Statements Is True or False

question 139

Short Answer

Indicate whether each of the following statements is true or false.

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Definitions:

Genuine Assent

A true agreement to a contract evidenced by all parties' understanding and free will to enter into the contract without any deception, coercion, or undue influence.

Common Law

A body of unwritten laws based on legal precedents established by the courts, as opposed to statutes or regulations enacted by legislative bodies.

Offeror

The person or entity who makes a proposal or offer in a contract negotiation.

Offeree

The party to whom an offer is made in a contract situation.