Chapter 10: Formation of Traditional and E-Contracts

The four basic elements necessary to the formation of a valid contract are __, __, __, and __.

Agreement, Consideration, Contractual Capacity, Legality

The elements necessary for an effective acceptance include __, __, and __.

Intention, Terms, Communication

For consideration to be legally sufficient, it must be __.

Legally sufficient value must be exchanged for a promise.

A minor does not have the capacity to enter into a contract except for contracts __.

prohibited by law for minors.

Courts will enforce a covenant not to compete if it is and .

reasonable and part of the sale of a business.

Shrink-wrap and click-on agreements differ from other contracts in that __.

they involve acceptance through actions rather than traditional signatures.

Traditional laws have been applied to agreements such as __, __, and __.

bilateral contracts, unilateral contracts, and e-contracts.