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what are the elements associated with creating a contract? Why is a contract needed?

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General Management

what are the elements associated with creating a contract? Whyis a contract needed?

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A contract is nothing but the legal binding between two or more parties that enter into a legal agreement The contract is valid if there is an offer made offer accepted and the consideration to be paid by the promise made A valid contract has four requirements They must consist of offer acceptance consideration and intention of legal consequences Offer It is an act to do something or to pay an amount if accepted forms a valid contract To make an offer there should be at    See Answer
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