The Legal Effect Of Pre Contractual Representations ( Brochure )

There are three main elements for the formation of a legally binding contract, intention, agreement and consideration. The requirement that requires discussion here is the existence of an agreement by the parties to enter into a legally binding contract.

a) Alan wants to know the five requirements in order to make a valid contract.

A contract requires four elements to be valid. Essential elements in any contract include the following: agreement, consideration, legal ability, and a legal object (Kubasek, Browne, Herron, Dhooge, & Barkacs, 2016). The agreement includes the offer made to the other party who then agrees to enter into the contract. The consideration includes the exchange each party receives as a result of the contract. The legal ability is capacity one has to enter into a legal contract. The legal object is the legality of the contracted issue. These elements together create an effective, valid contract.

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).

An offer is the manifestation of the willingness to enter into bargain, so that the offeror understands that he may enter into the bargain freely and that assent to the bargain will complete the transaction. Bill presented an offer to Sara to

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.

Well, the five essential elements of a certain enforcement contracted are well detailed below, well detailed how they relate to my case above. There are five crucial steps when it comes to contract process. These steps comprise; offer, acceptance as well as consideration, lawful purpose and also capacity of parties.

Four elements are necessary for a contract to exist. According to Kubasek et al., (2012) “These elements are the agreement, the consideration, contractual capacity, and a legal object,” (p. 304). The agreement consists of an offer from one party and an acceptance from

P1.1 explain the importance of the essential elements required for the formation of a valid contract

A legal contract arises when there is an offer, acceptance of that offer and also a sufficient consideration to make the contact valid. There are five essential elements that make a contract legal and these includes;

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)

The last requirement of a valid contract is that its provisions be legal. If a

In order for a contract to be formed, there are various requirements. These are offer, acceptance, consideration, and the intention to create legal relations. A contract may also be terminated.

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.