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Service Contracts Essay
Several fundamental components make up service contracts, including offer and acceptance, consideration-supported mutual agreement, competent parties, lawfulness of purpose, and appropriate form (Liuzzo & Hughes, 2022). The parties must agree to one another for a contract to be formed. This is referred to as "the meeting of the minds" and implies that both parties must comprehend or acknowledge the terms and conditions of the offeror and offeree (Cornell Law School, n.d.). “The promise to give up something of value that a party to a contract has a legal right to keep, or to do something that the party is not otherwise legally required to do” is known as consideration (Liuzzo & Hughes, 2022). A binding exchange of promises, a transfer of money, or a commitment between parties to act or not act are a few examples. Both parties must be sufficiently educated to understand what they are signing when they enter a contract. It is necessary to be of legal age and to have a stable, normal mental state when joining. If either party suffers from a mental illness, injury, or impairment brought on by drugs, no legal agreement can be made. Anyone with these conditions should avoid signing into something that can jeopardize their health. Since contracts' integrity cannot be upheld in court, their legality shouldn't be violated. For a contract to be enforceable, it must be in true form, which implies that some contracts need to be recorded in writing. For most contracts to be enforceable, both parties must sign them.
