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US Business Law

(1) Identify two of the elements of a contract. Explain the importance of those elements to a business. How can this business be subject to liability with regard to these two elements?

(2) Lawsuits for breach of written contract are common. What are the pros and cons of available remedies to a plaintiff for a successful breach of written contract suit?

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(1) Identify two of the elements of a contract. Explain the importance of those elements to a business. How can this business be subject to liability with regard to these two elements?
Two of the elements of a contract are offer and acceptance. The offer is what is offered to another person for the return of that person's promise to act. The acceptance of offer is one which is made by the other party. This acceptance creates a contract. The acceptance cannot vary the terms of the offer and cannot be withdrawn.
A business can be held liable if it makes an offer that is ambiguous. In ...

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