The Four Elements of a Valid Contract

Identify the facts from the scenario which support your decision on whether or not a contract exists for the purchase of the automobile.

A contract is an official agreement between two parties. There are different types of contract, such as sale and purchase of a business agreement, partnership agreements, lease of business premises, lease of plant and equipment and employment agreements. The format can vary too. It can be face to face, written, or distance selling. The specifications of a contract involve offer and acceptance, the intention to create legal relations, lawful considerations, capacity and legal formalities such as terms and conditions.

This discussion board post will respond to various questions regarding the Contracts Analysis Case Study involving Marshall Petersen and his local health food business from a

Maximum Possible Points: The maximum number of points you may earn for this assignment is 50.

In the Jacob & Youngs, Incorporated vs. George E. Kent case, Jacob & Youngs, the plaintiff, claims that there was a breach of a clause in the contract with the defendant, George E. Kent. The clause stated that any work that is either defective or not in accordance with specifications will be

In regards to the issue between Mr. Stevens and the chain store, various elements must be present to prove that a valid contract exists. The four elements to a contract are: agreement between the parties, consideration, contractual capacity, and finally, legal object (Kubasek, Browne, Giampetro-Meyer, Barkacs, Herron, Williamson, & Dhooge, 2011).

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An advertisement involving a transaction in goods is an offer when it invites particular action, and when it is clear, definite, and explicit and leaves nothing open for negotiation.

Analyse how the court will classify these types of contractual terms in the business scenarios given below with reference to their meaning and effects. Explain how your you arrive at each conclusion by evaluating the effects of the different terms and citing the relevant case law or statutes

The four elements of a valid contract are offer and acceptance, meeting of the minds, consideration and competent parties. The contract must cover a legal purpose or objective as well (Binder, 2012). The objective theory of contracts holds that contract formation is dependent on what is communicated, rather than what is thought by one of the parties (Barnes, 2008).

Offer is the promise made by the offeror. Generally, advertisement is the invitation to treat. Invitation to treat is different to the offer, so the advertisement is not an offer. (Partridge v Crittenden［1968］ 1 WLR 1204)

There are two types of offer; specific and general. Specific offers are those made by one person or group of people who can choose to accept, and general offers are made to a generalised majority, such as in rewards and public advertisements. In the case of CARLILL v CARBOLIC SMOKE BALL, a general offer had been made, as it was a publicised advert. The company did not comply with the terms that it had stated; therefore the court held that the contract had been breached as an offer had been made. It was rightly decided that most offers

Contracts are used in many different forms and for just as many different situations within our everyday lives. Some contracts are more involved than others and for some; contracts are an essential of their success. As we continue, we will take a look at different types of contracts with the main focus on enforceable contracts. With so many elements that are incorporated into any contract, the six essential elements of enforceable contracts will be the main focus of this writing. Having a clearer understanding of the essentials of life will help prepare us for life’s curves that may come our way.

Introduction: In this assignment I will go over a few legal terms in relation to contract law. I will also talk about a few precedents that help explain the law.

A contract is a written or spoken agreement between two or more parties that involves the exchange of two promises, which is intended to be enforceable by law. The four basic elements are the offer, consideration, acceptance, and mutuality. When elements are broken down individually, each one is just as important as the next. If one of these elements are broken or misunderstood, it could mean result in the contractual agreement becoming not valid and end in lawsuit. The overall purpose of the contract is for legal purpose and to keep a order within an agreement.