There are 4 essential parts to a contract. All 4 components (Agreement, Consideration, Capacity and Legality) are necessary to have a viable contract. Contracts can be created by words, in writing, by behavior and via court order (estoppel). Explain and define the 4 components of a contract. Chapter 11 speaks to the first component.. "Agreement" (which consists of an offer and acceptance). Explain what an offer is and how one can show acceptance. There are many ways that Agreement (meeting of the minds) can be met whether in a written, oral and implied contract. Find an interesting case that talks to the issue of when or how important Agreement is in contract formation. They say "Timing is everything" in contract law. Why is time so important when making an offer or receiving an acceptance? Remember to use a minimum of 350 words

There are 4 essential parts to a contract. All 4 components (Agreement, Consideration, Capacity and Legality) are necessary to have a viable contract. Contracts can be created by words, in writing, by behavior and via court order (estoppel). Explain and define the 4 components of a contract. Chapter 11 speaks to the first component.. "Agreement" (which consists of an offer and acceptance). Explain what an offer is and how one can show acceptance. There are many ways that Agreement (meeting of the minds) can be met whether in a written, oral and implied contract. Find an interesting case that talks to the issue of when or how important Agreement is in contract formation. They say "Timing is everything" in contract law. Why is time so important when making an offer or receiving an acceptance? Remember to use a minimum of 350 words

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

Chapter8: Revenue Recognition, Receivables, And Advances From Customers

Section: Chapter Questions

Problem 3Q

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