Answer the questions.
1-2. List and describe the three requirements necessary for an offer by an offeree to be effective.
3-4. Read the case of Lucy v. Zehmer in the text.
a. Give a brief summary of the facts of this case.
b. According to the court’s opinion, what facts supported the plaintiffs, Mr. and Mrs. Lucy, position that the defendants, Mr. and Mrs. Zehmer were serious in their offer to sell the property?
5. List and explain the terms, either expressed or reasonable inferred, that must be included in a contract?
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