The Law Handbook Of 1977

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The Law Handbook of 1977, states that a contract is a legally binding or valid agreement between two parties in which the law will consider a contract to be valid if the agreement contains all of the following legal elements. The first and most important element is “Offer and acceptance” where one party has elected to offer the other party in exchange for a good, service or something else of value and the offeree accepts the terms given to them. In this case both parties accept the offer arranged of $750,000 for all development, production and promotional costs on 5 October 2015. Crane Entertainment also stipulates that the game will need to be completed by 22 February 2016. The second component is “an intention between the parties to create binding relations”. This refers to whether the court assumes that both of the parties agree to be enforceable at law. In this situation there is an intention to create these binding relations since Gabe accepts the terms covered in the contract. The third section is “consideration to be paid for the promise made” which denotes that the offeree is intended to receive cash, good or service in exchange with what the contract states. Gabe, in this case, is expected to be paid the $750,000 for the promise made of custom-made action games to install in each of their arcades. The fourth element is “genuine consent of the parties” where each party understands and voluntarily consents to the terms of the contract. The common law calls this
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