The Six Elements Required For An Enforceable Contract

A contract is an agreement between two or more parties, which can be legally enforceable. A contract maybe written or oral, although an oral agreement can be difficult to prove in court. In order for a contract to exist it must include four elements, that being offer, acceptance, intention and consideration. (Sweeney & O’Reilly 2007 pg 160). A contract only exists when an offer has been accepted, an offer has the intention to be legally binding and the willingness to contract on certain conditions (Butt 2004 pg306). Accepting an offer means agreeing to the contract and in essences agreeing to the terms of that contract, an offer can’t be withdrawn or rejected and only the offeree is able to accept the offer, this acceptance must be

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.

Another element of a valid contract is consideration moving to the contract. In order for a valid contract to exist, both parties must agree to some type of valuable obligation

A contract is characterized by five vital elements to be considered as a contract. If any article is missing, the contract will not be lawfully viable. These are discussed below.

(ii) In the context of the law of contract, consideration is meant by “the price of the other persons promise”. The law enforces bargains, not bare promises. A bare promise is unenforceable, unless bought by some consideration provided by the other party.

An offer is a clear indication by one person to another person of the offeror’s willingness to enter into a contract with the other person (the offeree) on certain stated terms upon acceptance of the offer by the other person. There is an offer because it is not a statement of intention, mere supplying of information, invitation to treat or mere puff. The offer was addressed to all Contracts Students.

A valid contract consists of all essential components which present and the court will enforce as a legally binding promise . One of the elements contract to create a contract is agreement which included an offer and acceptance. “Acceptance is a final and unqualified assent to the terms of the offer, made in the manner specified or indicated by the offeror” . Acceptance may be express orally, in writing, occasionally, or even by implied from the offeree’s conduct. In communication of acceptance, general rule claimed that acceptance ordinarily occurs at the time when, and the place where the offeror receives the acceptance .As a general rule, “what must be accepted is what was offered” , it exclusive of addition, deletion, or qualification.

An offer is a promise to act or renounce from acting which is made in exchange for a return promise to do the same. Some offers expect not another promise being returned promise to do the same , Some offers antedate not another promise being returned in exchange but the performance of an act or forbearance from taking action , for example a painters offer to paint someone’s house for $100 is probably conditioned on the homeowners promise to pay upon completion while a homeowners offer to someone $100 to have his or her house painted is probably conditioned upon the painters successfully performing the job , In either case an offerees power of acceptance is created when the offeror carries a present committed to enter a contract in certain and definite terms that are connected to the offeree.

An offer is a request from one party to another to begin a contractual obligation. An offer also indicates a desire to be tied in by the agreement with the acceptor. An acceptance is to agree to the conditions set forth in the contract. The action of acceptance produces the contact. We then need to have consideration which has to be received as stated in the contract. Consideration is the notion of legal value which can be in the form of money, services, or items, just to name a few.

Consideration – a requirement to form a contract; typically one party makes an offer for a service and another party accepts this service in exchange for monetary compensation.

An offer on the other hand is a statement of terms where the party (at this stage would be referred to as the offeror) has the intention of being legally bound to the terms of whatever agreement they have going on.

An offer is the first and foremost element of a contract, proposed by the Offeror. It is an expression of willingness to form a contract on certain conditions/terms, formed with a purpose that it shall become a binding once accepted by the person to whom it is addressed i.e. Offeree. The procedure of offer and acceptance might take in three different ways:

The six major elements of a contract are offer, acceptance, objections, mutuality of obligation, and competency. In contracts, an offer specifies what goods and/or services are going to be exchanged. An order can be defined as "an expression of willingness to contract on certain terms, made with the intention that [terms] shall become binding as soon as it is accepted by the person to whom it is addressed" (Treitel, 2007). As stated in the definition of offer, the next step in creating a successful contract is acceptance. Acceptance can also be referred to as genuine assent and requires that all parties partaking in a contract agree to the terms outlined in the offer. Legally, all terms outlined in a contract cannot be transferred to a third party, nor can services be subcontracted out to a third party unless there is a provision included in the contract that addresses how these circumstances should be handled. Furthermore, all terms

The binding elements of a contract are offer and acceptance. Offer is an expression of willingness to contract. Say if someone asked if they can buy your

What then, defines acceptance in a legal sense? Acceptance must be final and unqualified, and communicated to the offeror. Brad and Jennifer both sign the contract in the presence of both parties, and agree to no other terms apart from those stated in the contract. Therefore, our group recognizes that Brad is the offeror and Jennifer is the offeree of the contract. Brad calls Jennifer regarding the fixture of the 40cm Superspike end-pin on the cello and offers to pay her s offer of $2,000 and agrees to the installation. Secondly, consideration must be present. Consideration is defined as something which has value in the eyes of the law and is given in exchange of a promise. Consideration can be in the form of a benefit or detriment requested for by the promisor, and must move from the promisee to the promisor. Applying the