A decision of a court regarding the rights and liabilities of the parties to legal proceedings. Judgments generally provide the court’s explanation as to why it has chosen to make a particular decision.

A formal promise by one party (the guarantor or surety) to another party (the creditor) to accept responsibility of a third party’s (the principal debtor) debt, if that third party cannot or refuses to pay it.

A demonstration of the willingness of a party to enter into a bargain, made in such a way that another individual is justified in understanding that his or her assent to the bargain is invited and that such assent will conclude the bargain. The general rule is that it must be reasonable in the circumstances for the recipient to believe that the communication is an offer. The more definite the communication, the more likely it will constitute an offer.

The demonstration of agreement with the terms and conditions of another person’s offer so that the offer becomes a formal contract between the two parties.