Joe Smith is a potential buyer. His real estate agent helps him complete the contract and he signs it. It is delivered to the seller. This is an example of: Group of answer choices

offer

acceptance

consideration

legal object

Joe Smith is a potential buyer. His real estate agent helps him complete the contract and he signs it. It is delivered to the seller Jane Doe. Jane Doe completes the box that says "Accepted" on page 9 and signs. This is an example of:
Group of answer choices

offer

acceptance

consideration

legal object

Joe Smith and Jane Smith have both signed this contract. Line 33 of the contract ("PRICE") was completed so that it reads One Hundred Thousand Dollars ($100,000). This provision is an example of:
Group of answer choices

offer

acceptance

consideration

legal object

I. Offer.

II. Acceptance.

III. Legal object.

Explanation:

A contract can be defined as an agreement between two or more parties (group of people) which gives rise to a mutual legal obligation or enforceable by law.

Also, mutual assent is a legal term which represents an agreement by both parties to a contract. When two parties to a contract both have an understanding of the parameters, terms and conditions surrounding a contract, it ultimately implies that they are in agreement; this is generally referred to as mutual assent.

I. In this scenario, Joe Smith is a potential buyer. His real estate agent helps him complete the contract and he signs it. It is delivered to the seller. This is an example of an offer.

An offer simply depicts the willingness of a party to contract based on certain terms and conditions which shall become binding on the other party to the contract as soon as he or she consents.

II. In this scenario, Joe Smith is a potential buyer. His real estate agent helps him complete the contract and he signs it. It is delivered to the seller Jane Doe. Jane Doe completes the box that says "Accepted" on page 9 and signs. Thus, this is an example of an acceptance.

An acceptance depicts an agreement to the terms and conditions of a particular thing.

III. In this scenario, Joe Smith and Jane Smith have both signed this contract. Line 33 of the contract ("PRICE") was completed so that it reads One Hundred Thousand Dollars ($100,000). Thus, this provision is an example of a legal object.

A legal object is simply anything that has value and as such gives legal rights to the subject (owner).