6 Key elements of the contract

first Bid. The bid may be presented orally or in writing as long as it is not mandatory. This is a definite expression or a firm action that starts the contract. They simply offer him to return to the person's promise. It can not be ambiguous or unclear. Terms that are certain and certain, such as the identity and nature of the object that are offered and under what conditions and / or conditions are offered, should be defined.

2nd Acceptance. As a general legal point of view, the acceptance of an offer made by one party to the other party is the conclusion of the contract. This acceptance can not be revoked as a general rule, does not exceed the terms of the offer, can not change or modify it. You accept this value. While this proposal may vary by country, the general rule is that the law does not contain conditional approvals. In fact, with a conditional acceptance, the target refuses the offer. However, the bidder, by his choice, action or word, which indicates the acceptance of the counter offer, binds the conditions offered by the bidder.

3rd Consideration. Consideration of a contract may be money or another right, interest or benefit, or a disadvantage, risk, or liability may be assigned to someone. Consideration is a necessary element of a treaty. As a warning note, it should be noted that the agreement must be established by either party or expressed in terms of the terms of the contract. Potential or random benefits or disadvantages in itself would not be considered a valid consideration. Consideration must be clear and sufficient to support the promise or not, whatever it may be. However, it can not be a pecuniary value. Mutual promises are appropriate and valid for each party as long as it is compulsory. This rule also applies to conditional promises. For further clarification, the general rule is that a promise of the actions you have previously been obliged to do is not enough in the contract. The court shall determine the application.

4th Capacity of the Contracting Parties. The general presumption of the law is that all people are able to contract. A person who attempts to avoid a contract must appeal to a party seeking to conclude a contract with a lack of contractual ability to contract. For example, you have to prove that you were a minor you did not reach, drunk or drugged, and so on. Often, this is the most difficult burden of proof that the presumption of contracting ability causes.

5th The intention of the contracting parties. An essential requirement is the existence of any contract, either verbal or written, in order to have the parties' mutual consent or "awareness" of all the terms and essential elements of the contract. The courts have ruled that a contract can not be concluded without the involvement of all parties concerned. This intention is determined by the outward actions or actual words of the parties, not just their secret intentions or desires. Therefore, mere negotiation would not have been considered as an offer and acceptance of mutual consent or consent to the contract, even if the parties agreed on certain negotiating terms. Both parties intend to conclude the contract and not to mislead the other. Therefore, the contract is terminated due to fraud or certain defects.

6th Subject of the contract. The contract can not be enforced if it is considered illegal or public. In many jurisdictions, treaties based on lotteries, dog breeds, horse racing or other games of chance can be regarded as illegal contracts. However, in some countries these contracts are valid. Federal and some state laws restrict trade, price-fixing, and monopolies. Therefore, a contract that violates such a contract would be illegal and unenforceable. This is true of drugs and prostitution, or any other activity if considered to be a criminal offense.

Source by Ashley R. Gordon

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