15. agreement: mutual consent between offeror and offeree
16. acceptance criteria: offeree communicates to the offeror his intent to enter intocontract
must be unconditional - the offeree accepts the terms proposed by the offerororiginal
offeree is the only person who can legally accept the offer
17. An offer may be terminated by:: revocation by offerorrejection
by offeree
time lapse
termination by operation of law
-either party dies or becomes disabled
-performance of contract becomes illegal after the offer
-subject matter is destroyed
18. offer rejection: explicit rejection
proposal of new offer
counteroffer
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