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Contract law - There are four basic elements of a contract that must be fulfilled.
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Emma Griffin Contract law There are four basic elements of a contract that must be fulfilled. Firstly, there must be an agreement between the parties involved, this usually only happens when one party has made an offer and the other has accepted. There must also be an intention to create legal relations, of in other words, to be legally bound by the agreement. Both parties should have a degree of certainty as to the terms of the agreement, and consideration must be provided by each of the parties. This means that there must an exchange between the parties, for example, if one party gives the other goods, then the other will give a sum of money in return. The parties will then both have provided consideration. For a contract to exist, usually one party must have made an offer, and the other have accepted it. Once the offer is accepted...
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