1. What elements are necessary for a valid contract to exist? Define what constitutes a "valid offer." Evaluate each proposal and discuss whether each of the offers constitutes a valid offer. Why or why not?
2. Each proposal involves a different country. What are the particular concerns for Gloria in doing business in other countries? What contract provisions does she need to include in any business contract in order to protect her business?
3. How can Gloria continue to protect herself and her family from personal liability if she obtains her widgets from a foreign manufacturer? Use your textbook and library references to answer these questions. Evaluate each proposal. Does it constitute an offer?
There are 4 most important elements of valid contract:
Offer: The party promises to do certain activity or promises not to do specific action and in this scenario all the three suppliers have made promise to Gloria regarding the amount and cost of product. But only Richard gave the time limit of acceptance of offer which makes only his contract
