What are the four required elements of a valid contract


1. What are the four required elements of a valid, legally enforceable contract?

2. Give an example of a bilateral contract and explain what makes it bilateral. (Be careful! This is a concept that students often miss. Read carefully the material in your textbook about bilateral and unilateral contracts.)

3. Give an example of a unilateral contract and explain what makes it unilateral.

4. Greene's Lawn Service was tending to a client's yard when it noticed that the lawn next door was high and the shrubs needed trimming. Neighbor was not home. Greene's cut the lawn and trimmed the shrubs anyway and then sent Neighbor a bill for $200. Must Neighbor pay this bill? Is this a quasi-contract? Why or why not?

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Business Law and Ethics: What are the four required elements of a valid contract
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