Comment on the essential elements of a valid contract and the importance of each.
Title: Comment on the essential elements of a valid contract and the importance of each.
Category: /Business & Economy
Details: Words: 2116 | Pages: 8 (approximately 235 words/page)
Comment on the essential elements of a valid contract and the importance of each.
Category: /Business & Economy
Details: Words: 2116 | Pages: 8 (approximately 235 words/page)
"A valid contract, in essence, is the agreement between its parties".
Discuss this statement and, using both case law and legal principles, comment on the essential elements of a valid contract and the importance of each.
To a certain extent this statement is true but it is only one element of a valid contract to explain please find following all elements and conditions within a valid contract.
To Contract:
Is to enter into a relationship
showed first 75 words of 2116 total
You are viewing only a small portion of the paper.
Please login or register to access the full copy.
Please login or register to access the full copy.
showed last 75 words of 2116 total
each party is prepared to take.
Conclusion
In conclusion, our opening statement "A valid contract, in essence, is the agreement between its parties", is factually true but it hides the idiosyncrasies of law. Yes, we do see it as a 2 plus party agreement, but we also must realize that all of the essential elements, (offer, acceptance, intention, consideration, capacity, legality & meeting of minds ) all have a critical role in the contracts viability.