Identify the Following Terms

question 49

Short Answer

Identify the following terms:
the "fifth modernization"

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Definitions:

Mirror-Image Rule

A contractual principle stating that an offer must be accepted exactly without modifications for a valid contract to be formed.

Subject Matter

The specific topic, content, or issue that is under discussion or consideration in a contract or legal document.

Express Contract

An agreement with clear, explicit terms that are communicated verbally or in writing between parties.

Implied Contract

A contract that arises not from words of agreement but from the conduct of the parties.