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Bookmark or Share- contract | Wex | US Law | LII / Legal Information InstituteA contract is an agreement between parties, creating mutual obligations that are enforceable by law. The basic elements required for the agreement to be a legally enforceable contract are: mutual assent, expressed by a valid offer and acceptance; adequate consideration; capacity; and legality.
- Offer and Acceptance: Legal Definition, Revocation, Rejection and ...What is an Offer and Acceptance? In legal terms, an offer is a clear, definitive, and communicated proposition by one party (the offeror) to enter into a contract on specified terms to be bound once accepted.
- What is an Offer in Contract Law - UpCounselLearn what an offer is in contract law, its essential elements, and how it leads to contract formation. Understand key legal principles and examples.
- The essential elements of a contract - Thomson Reuters Law BlogMaster the essentials of contracts – from offer to legality. Ensure validity with these six elements for binding, enforceable agreements.
- Offer, acceptance and consideration in contract negotiationsWhat is an offer? An offer is actually a type of promise in exchange for another party’s specific performance. To be valid for the purposes of a contract, an offer needs to be communicated to the other party, and the other party must have a chance to either accept or reject the offer. Once made, an offer can be easily withdrawn prior to ...
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