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Comparing Contract Concepts

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Compare and contrast the following concepts:

Binding and nonbinding promises
Bilateral and unilateral contracts
Contracts and quasi-contracts
Offer and acceptance
Offer and counteroffer
Monetary damages and equitable relief
Adjudicated insane and insane in fact

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Solution Summary

This solution compares and contrasts the following concepts: binding and nonbinding promises; bilateral and unilateral contracts; contracts and quasi-contracts; offer and acceptance; offer and counteroffer; monetary damages and equitable relief and adjudicated insane and insane in fact