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What are the basic elements of a valid contract? What are the elements of an offer?...

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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?

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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
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