Question

What elements are necessary for a valid contract to exist? Evaluate each proposal and discuss whether each of the offers constitutes a valid offer. Why? or why not?

Answer 1

Elements which are necessary for a valid contact to exist are:

1. Consists of an agreement between the parties,
2. Must be supported by legally sufficient consideration,
3. Should be between partied with contractual capacity,
4. Accomplishes a lawful object.

To make any proposal to constitutes a valid offer, it must clearly define any term and circumstances that are required to making an agreement. And, it should provide the recipient a clear opportunity to either accept or reject it.