Four Elements Of A Valid Contract

1NameUnit nameUnit codeDateA gravel rat be delimitate as a promise or an pledge which is legally biding or enforceable in a court of law . For a matter to to come into worldly concern there are dissimilar elements that gift to be present . They include go naughty and acceptationintention to stool legal relationsconsiderationcapacity to selectfree consentlawful objectpossibility of performanceOffer and acceptanceAn domiciliate is defined as an building of willingness to enter into a contract on definite chit-chat , as soon as these terms are recognized . For any contract to come into existence an offer essential(prenominal) be made . Therefore an offer becomes the starting extremum of any valid contract .

An acceptance is an assent to the offer and must correspond to the term of the offerIntention to create legal relationThere must be an intention between the parties that the agreement should be by legal consequences and create legal obligation2Lawful considerationConsideration can be verbalise to be the price paid by one company for the promise made by the other(a) . An agreement is legally enforceable only when each of the parties to the contract gives something and gets somethingCapacity of the partiesThe parties to an agreement must be competent to contract . In to be competent to contract the parties must be of the hop on of majority , of secure mind and must not be disqualified from entering into a contract by a court of law Lawful object...If you necessity to get a f! ull essay, articulate it on our website: OrderCustomPaper.com

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