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An agreement or contract that is manifested by words, either written or oral.

 What type of contract or agreement exists where only one party makes a promise? (The other party usually fulfills their end by some type of conduct.)

Jim bids on a multi-million dollar construction project and makes a miscalculation of approximately $5,000.  He only notices the error after his offer has been accepted by the builder.  Jim can likely have the contract voided because of his mistake.

CopperTire enters into a contract with RubberCo to purchase all of its rubber from RubberCo.  Copper later tries to argue that the contract is not valid because it does not specify a definite amount of rubber that it will purchase.  Courts will generally invalidate this type of contract for not being definite.

Jennifer promises to give Kelly her stamp collection.  Kelly goes to Jennifer’s house to get the stamps but Jennifer says that she has changed her mind and will not give Kelly the stamps.  Kelly can successfully sue Jennifer for breach of contract.

One act can be both a crime and a tort.

If the law is intended to protect one of the parties to an otherwise illegal contract, the innocent party may seek relief in court.

If two parties make an oral agreement and then put it in writing and sign a contract, but one then alleges that there is a mistake in the written document (contract), the written contract always dictates and is what binds the parties.

The type of contract where a court imposes an obligation on one party to prevent that party from being unjustly enriched (where there is no actual contract).

Nelson was in the market to sell his house.  Baker sent him a written offer to buy the house.  Nelson sent Baker a response stating that he would accept Baker’s offer with some changes.  Baker withdrew his offer, but Nelson sued Baker saying they have a valid contract.  Nelson is correct.