Basis of binding agreement with both offer and acceptance

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1. T or F; The following exchange, for purposes of establishing a contract, creates the basis of a binding agreement with both offer and acceptance?

2. Party A offers to complete a task for Party B, in exchange for $250 dollars. Party B says that they want to hire them, but only are willing to pay $200.

3. -T or F; "Consideration" is essentially the same as "an exchange between both parties of reasonably equal value and/or mutual benefit of the same value?

4. T or F; When it comes to "contractual capacity", if it becomes know to either party that one of the parties is a minor (under 18), EITHER party has the ability to terminate/void the contract, based on lack of capacity.

Reference no: EM132266960

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