Price is not the inal element, have to look at the condiions in which the deal occurred. Yes but only if the ofer has been accepted or someone paid to keep the opion open ex: bombardier. Quebec investment of 3 billion and carleton grad students promising to paint the room. Agreed to key terms of the contract, have to communicate (prove people agreed) Electronic (email, fax or telefax, oferor has to conirm receipt of acceptance) Consideraion : price we pay for execuion of the promise(fair/reasonable), negoiate fair terms. Promised 100 pound reward if product did not prevent inluenza and it didn"t. Implied (terms not expressly stated in the contract but necessary to give power to paries) Business eicacy, part of trade and customs, past pracices, statutory requirement. Interest rate (less than 60%, if not stated then 5%) glenko vs keller. Can"t get third party to interpret contract unless it is for correcions.