Which of the following was not taken into account by classical law in assessing contracts?

Inhaltsverzeichnis Show

Which of the following is not required for a contract to be valid quizlet?
Which the following is a measure of compensatory damages?
Which of the following characterizes the traditional rule regarding a minor?
Why does traditional contract law view any kind of an attempt by offerees to change terms as constituting a counteroffer?

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Which of the following is not required for a contract to be valid quizlet?

The answer is earnest money. The essential elements of a valid contract are offer and acceptance, consideration, legally competent parties, mutual agreement, and legal purpose. Earnest money is not required for a valid contract.

Which the following is a measure of compensatory damages?

The standard measure of compensatory damages is the difference between the value of the breaching party's performance under the contract and the value of his or her actual performance.

Which of the following characterizes the traditional rule regarding a minor?

The traditional rule is that, where the consideration given a minor under a minor's contract has been lost, stolen, or dissipated, the minor can disaffirm without compensating the adult for the loss in any way.

Why does traditional contract law view any kind of an attempt by offerees to change terms as constituting a counteroffer?

Why does traditional contract law view any kind of an attempt by offerees to change terms as constituting a counteroffer? Such an action implies a rejection of the offer by the offeree.