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CONTRACT LAW (Elements of a contract (Offer (Accept/Reject (Acceptance -…
CONTRACT LAW
Elements of a contract
Is the agreement supported by consideration? Is any such agreement intended to be legally binding? Is there an existence between the parties?
If any one of these legal conditions are absent then the 'arrangement' between parties is simply of a social nature & not legally binding.
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Definitions
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Examples
Sporting context : team sports, gym membership
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Principle of an Offer
Can be made in writing, orally or through an act which indicated that an offer has been made
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If no time limited is given, the offer will expire after a reasonable period of time
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