key terms review\nmatch the terms with the definitions. some terms may not be used.\n1. an invitation to…

key terms review\nmatch the terms with the definitions. some terms may not be used.\n1. an invitation to enter a contract\n2. a statement assuring quality and performance of a product or service\n3. a person who promises to pay the debt of another person\n4. something of value exchanged for something else of value\n5. a computer program that organizes data in columns and rows\n6. the competence of a party to enter into a contract\n7. a new offer that changes the original offer\n8. an instrument that is legally collectible upon demand\na. acceptance\nb. capacity\nc. consideration\nd. contract\ne. cosigner\nf. counteroffer\ng. negotiable\nh. notarized\ni. offer\nj. spreadsheet\nk. statute of frauds\nl. warranty

key terms review\nmatch the terms with the definitions. some terms may not be used.\n1. an invitation to enter a contract\n2. a statement assuring quality and performance of a product or service\n3. a person who promises to pay the debt of another person\n4. something of value exchanged for something else of value\n5. a computer program that organizes data in columns and rows\n6. the competence of a party to enter into a contract\n7. a new offer that changes the original offer\n8. an instrument that is legally collectible upon demand\na. acceptance\nb. capacity\nc. consideration\nd. contract\ne. cosigner\nf. counteroffer\ng. negotiable\nh. notarized\ni. offer\nj. spreadsheet\nk. statute of frauds\nl. warranty

Answer

Brief Explanations:

  1. An offer is an invitation to enter a contract.
  2. A warranty is a statement assuring quality and performance of a product or service.
  3. A cosigner is a person who promises to pay the debt of another person.
  4. Consideration is something of value exchanged for something else of value.
  5. A spreadsheet is a computer program that organizes data in columns and rows.
  6. Capacity is the competence of a party to enter into a contract.
  7. A counteroffer is a new offer that changes the original offer.
  8. Negotiable means an instrument that is legally collectible upon demand.

Answer:

  1. i. offer
  2. l. warranty
  3. e. cosigner
  4. c. consideration
  5. j. spreadsheet
  6. b. capacity
  7. f. counteroffer
  8. g. negotiable