• What Are The Six Essential Elements Of An Enforceable Contract?

The other element of agreement is acceptance. An acceptance must be made on the same term as the offer and can only made by the person who the offer is addressed to. Meanwhile, an acceptance must be made while the offer is still in existence and it must be made in an acceptable form which means that the acceptance must be made in the same manner of the offer was offered. Lastly, the acceptance is effective when communicated.

An acceptance of an offer is “ a manifestation of assent to the terms thereof made by the offeree in a manner invited or required by the offer.

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

Agreement: There must be an offer coming from the offeror and an acceptance of this offer by the offeree. Mutual consent is required.

Since an offer and acknowledgment are sent over electronically by email, or in a Tweet or instant message, they are a substantial type of composing. In this manner, the way that it is in electronic shape does not influence contract arrangement. The agreement is still in composing, which is leverage over contracts made orally between two gatherings. The terms are expressed inside the composed correspondence. (Seaquist, (2012 ),page 139. Offer

Acceptance: Is defined by Chartered Institute of Taxation as “any words or actions signifying the offeree’s consent to the terms proposed by the offeror”. Acceptance must be final and unqualified. Acceptance should be conveyed to the offeree.

An offer exists if a party “promises to do or refrain from doing some specified thing in the future conditioned on the other party’s acceptance”.

A contract is an agreement that can be enforced in court and is formed by two or more parties who agree to perform or to refrain from performing some act now or in the future (Miller, Cross, and Jentz 289). In other words, it is a set of legal promises between two or more people or businesses. Contract law includes the elements of a contract, genuineness of assent, fraud, duty to disclose, disaffirmance and good faith. In order for a contract to be valid, there are essential elements that it

The aim of this report is to present contractual principals which make up and constitute a valid contract. It will explain also the types of terms and conditions that must be included in the standard form of contract and evaluate their importance to the business presented in the case study.

Acceptance is construed by communication of final assent to the terms of the offer, made in the manner specified or indicated by the offeror. The acceptance brings about consensus ad idem (a meeting of the minds) , which must be in reliance of the offer .

Contracts are used in today’s world as a major part of interaction between individuals or companies and consumers. Contracts are often used within our professional and personal lives; they allow business and individuals the ability to sell, purchase, or transfer

An acceptance is the agreeing to the terms offered. Acceptance must occur on the same terms of the offer. It must be made while the offer is still in existence. It must be made by the person to whom the offer was addressed to. It

An acceptance is the final stage of an agreement where the offer proposed is accepted by the offeree in order to bind themselves in the contract which has legal standing.

2This article describes one of the best elements of contract called consideration and on what extent consideration is valid or not. Thousands of years ago people use barter system to exchange goods and services to meet their needs without any special law than invention of currency make it easy to exchange goods, eventually the law makes it valid and more reliable. There are six elements in which the parties are generally bound to do something in future such as Offer and Acceptance, consideration, intention, invitation to treat, Legal capacity. Consideration appeared in 1916 and become one of the basic and essential elements for the development of contract. Consideration is nothing but an enforceable agreement where a promissory promise to exchange or to do something in future and promisee accept to perform such act in return and the parties intend to bind through agreement. The question arises that whether the consideration is legally valid or not under some conditions. Consideration could be small or long, good or bad. Earlier nominal consideration was adequate in contract. It does not matter that the consideration having the same values or same benefit. The courts uses sufficient consideration while setting the disputes or making the decision. Where there is money, payment and exchange of goods is involved, consideration considered to be more valuable. Contracts are frequently exercise commercially such as construction, purchase and sale of property, monetary assistance,

Offer and acceptance: Basically offer is a proposal. When the proposal is accepted by the person to whom the proposal is made, then it turns into a contract. To be