50. Define commercial law.
CONTRACTS
1. Define contract.
2. Give an example of a business transaction which constitutes a contract.
3. What is the purpose of putting important contracts in writing?
4. What is meant by offer?
5. Give an example of offer.
6. A coat marked $25 is placed by a merchant in a window. Does this constitute an offer?
7. An advertisement is put in a paper advertising chairs for $7.00 each. Does this constitute an offer?
8. What is an agreement?