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Elements of a Contract

Introduction to Contract Law
a data set by catina.cain
created September 28, 2016
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FAMILY TREE
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Elements of a ContractDefinition
OfferProposal by one party to another with intent to create a legal binding agreement
AcceptanceUnqualified willingness by the offeree to go along with the offer
Genuine Agreement/AssentA valid offer has been made by the offeror, and a valid acceptance has been exercised by the offeree
ConsiderationExchange of benefits and detriments by the parties to an agreements
CapacityLegal ability to enter into a contract
LegalityIllegal Contracts
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