Acceptance by an offeree of the terms of the offer is a requirement for contract formation
What is a unilateral mistake under the law of contract?
Situation 2 - where a party, by his words or conduct, simply renounces his contract inasmuch as he clearly conveys to the other party to the contract that he will not perform his contractual obligations at all
Repudiatory breaches grant innocent party right to choose whether to terminate or continue in which both parties must continue their obligations
Just because an offer is accepted does not necessarily mean that the parties intended to create legal relations.
Consideration is an essential element for the formation of contracts
When parties who are negotiating send their own terms back and forth, which terms prevail?
A party's wrongful conduct can entitle the other party to treat the contract as coming to an end
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