Julio emailed a contract to his vendor’s supply chain manager. Even though Julio sent the contract, the contract is not valid until the supply chain manager receives and executes the contract. What key principle about contracts does this scenario describe? (1 point) Responses Legal capacity Legal capacity Exchange of value Exchange of value Legal purpose Legal purpose Offer and acceptance
The key principle about contracts that this scenario describes is "Offer and acceptance."
The key principle about contracts described in this scenario is "offer and acceptance". In order for a contract to be valid, there must be an offer from one party and an acceptance of that offer by the other party. In this scenario, Julio sending the contract to the supply chain manager can be seen as an offer, but it is not valid until the supply chain manager receives and executes (accepts) the contract. So, until the supply chain manager accepts the offer by executing the contract, the contract is not deemed valid.
