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Contract Law Offer And Acceptance Contract Unilateral - Bilateral Contract Subjective-Objective Approach To An Agreement Offer Invitation To Treat Counter-offer Revocation Of Offer, Recall of Acceptance Acceptance Postal Rule-Limitation Contract Definition * Is an agreement between two or more parties that is intended to be legally binding (enforceable agreement) * Legally binding agreement needs of offer, acceptance, intention to create legal relations and consideration(difference between social agreement and legal agreement) * Is any promise or set of promises made by one party to another for the breach of which the law provides remedies * The remedies for the breach of contract is an award of monetary compensation, injunction, & specific performance(quantum meruit) Essential Element * The promise or promises may be express (either writing or oral) or may be implied from circumstances * Needs of writing is not essential for contract the Courts of US approved that as long as there is meeting of minds as though there is written, formal, signed contract then...

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