Last Updated 27 Jul 2020

Cotract Law

Category Contract, Justice
Words 279 (2 pages)
Views 8

Contract law A contract is an agreement between two or more parties, with the intention of creating a legal obligation, which may have elements in writing. And it can be made orally. This agreement creates a legal relationship of rights and duties on the parties and if these obligations in the agreement are not fulfilled then serious action could be taken by the courts on the party. There are three key elements for the conception of a contract. These are offer, acceptance, consideration and an intention to create legal relations.

Generally the parties to a written contract comprehend that they have entered into a binding agreement, but they do not always grasp this point when making an oral or implied contract. It is always difficult to prove the terms of an oral or implied contract than those of a written one. Elements of a contract An offer: an expression of willingness to contract on a specific set of terms, made by the offer or with the intention that, if the offer is accepted, he or she will be bound by a contract. Acceptance: an expression of absolute and unconditional agreement to all the terms set out in the offer.

It can be oral or in writing. The acceptance must exactly mirror the original offer made. Consideration: each party to the contract must receive something of value. But it is not necessary that it should be specified in the contract. An agreement made without consideration is void. Persons competent to contract All persons are legally authorized to enter into a contract except for the following: • Minors • Mentally incompetent persons. • Person who is ineligible from entering into the contract by law.

Order custom essay Cotract Law with free plagiarism report


This essay was written by a fellow student. You can use it as an example when writing your own essay or use it as a source, but you need cite it.

Get professional help and free up your time for more important courses

Starting from 3 hours delivery 450+ experts on 30 subjects
get essay help 124  experts online

Did you know that we have over 70,000 essays on 3,000 topics in our database?

Cite this page

Explore how the human body functions as one unit in harmony in order to life

Cotract Law. (2017, Feb 27). Retrieved from

Don't let plagiarism ruin your grade

Run a free check or have your essay done for you

We use cookies to give you the best experience possible. By continuing we’ll assume you’re on board with our cookie policy

Save time and let our verified experts help you.

Hire writer