Contracts Outline

“The mere existence of the core elements of offer, acceptance, and consideration will not guarantee a legally enforceable contract”. Discuss.

A’s promise to B can only be enforced by B if B has given consideration for that promise;

A bilateral contract comes into existence at the moment promises are exchanged. True, “promise for a promise”

An acceptance of an offer is “ a manifestation of assent to the terms thereof made by the offeree in a manner invited or required by the offer.

Offer- This is defined as a clear manifestation of willingness to enter an agreement made by another person with full understanding that their assent to the bargain is an invitation and is concluded.

The following case American Agricultural Chemical Co. v. Kennedy & Crawford, 103 Va. 171 (Va.1904) it is expressed that; where the consideration for the promise of one party is the promise of the other party, there must be absolute mutuality of engagement, so that each party has the right to hold the other to a positive agreement. Both parties must be bound or neither is bound. A party making a promise is bound to nothing until a promisee, within a reasonable time, engages to do, or else do or begins to do, the thing which is the condition of the first promise. Until such engagement or such doing, the promisor may withdraw his promise, because there is no mutuality, and therefore no consideration for it.

An offer allows the person or business to whom the offer is made to, to reasonably expect that the offering party is willing to be bound by the offer based on the terms proposed thus these terms of an offer must be define as well as certain.

A contract in its essence according to Davitt is “a union of two or more persons, originating in their mutual promises enforceable in law, for the reordering of their relations of title, duty and claim regarding something to be done or not to be done.” Id. at 273. The tricky part concerns what a mutual promise enforceable in law entails. As stated above, there are many difference schools of thought about what fills in the gaps of promises and what is enforceable by law.

3. An offer. An offer occurs when a party communicates the intention of doing something if the other party does another specific thing. Either the buyer or seller can initiate an offer so it could occur when you approach a cranberry cooperative with an

An offer is classified through the notion and understanding the willingness of both parties to enter into a bargain or proposal to a contract. The person who makes an offer is the offeror. The person to whom he makes that offer is the offeree. The terms are annoying but inescapable because, like handcuffs, all courts use them. Stan who is the salesperson on the car lot allowed the buyers Jim and Laura to test-drive the car, after test driving the blue four door sedan the couple gave Stan a 100-dollar deposit to hold the car for one day without signing any paperwork.

Acceptance- As a general proposition of law, the acceptance of the offer made by one party by the other party

for it to qualify as a proper contract in the eyes of the law: offer

Capable of acceptance by the offeree, offeree is the person receiving the offer. A valid agreement must be constituted by Offer and Acceptance. For the responses to an offer, everyone can accept

Acceptance is a final and unqualified expression of consent to the terms of an offer. An offer may only be accepted by the person to whom it is made unless an agent is authorized to accept on behalf of that person. In addition, an acceptance must be made in the manner requested or authorized by the offering party. If the party to whom the offer is made

The first element of a valid contract would have to be the offer. You can’t have an contract with a having something to offer to another partner. An offer is when one party