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law of contract

resolving conflict in the market place

QuestionAnswer
Agreement an offer must be made when one party asks another to enter a contract
how can an offer be made? orally , in writing, by conduct
terminating an offer revoked, rejected, lapse of time, death
acceptance the person receiving the offer accepts all terms of the offer
intention to contract the parties entering a contract must have the intention to finish and follow all the terms and conditions in it
capacity to contract all parties entering a legally binding contract must have the legal ability to do so
consideration each party must give something of value to the other party
legality of purpose a legally binding contract must be created for a legal purpose
Legality of form Contracts must be drawn up In the correct legal form
Created by: kimcocokelly
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