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What elements are necessary for a valid contract to exist? Evaluate each proposal and discuss whether...

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?

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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.

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