Examlex
A sick person who is given a medical explanation for his disease (for example,that he has tuberculosis)may still prefer to explain his illness as the result of witchcraft because it explains why he,and not someone else,got the disease.
Present Intent
Refers to the current intention of a person to engage in a legal act, ensuring that the intent aligns with the execution of the act.
Valid Offer
A valid offer is a clear proposal made by one party to another indicating a willingness to enter into a contract under specified terms, which, if accepted, results in a binding agreement.
Firm Offer
Under the Uniform Commercial Code, a signed, written offer by a merchant containing assurances that it will be held open, and which is not revocable for the time stated in the offer, or for a reasonable time if no such time is stated.
Consideration
In contract law, something of value exchanged between parties that is necessary for a valid contract.
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