What are the basic elements of a valid contract? What are the
elements of an offer?...
50.1K
Verified Solution
Link Copied!
Question
General Management
What are the basic elements of a valid contract? What are theelements of an offer? How might an offer terminate? What are theelements of an acceptance? What is the Mailbox Rule? The MirrorImage Rule?
Answer & Explanation
Solved by verified expert
3.8 Ratings (361 Votes)
Elements of a valid contract 1 Offer and Acceptance 2 Intention to create legal relationship 3 Capacity to contract 4 Genuine and free consent 5 Lawful object 6 Lawful consideration 7 Certainity and possibility of performance 8 Legal formalities Elements of an offer 1 Communication 2 Commitment 3 Definite terms 1 Communication The person making the offer the offeror must communicate his offer to a person who may then choose to accept or reject the offer the offeree Often this is not a serious issue to analyze as the offeror is free
See Answer
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
