Essentials of a Valid Contract Homework Help
Essentials of a Valid Contract Homework Help Knocking at Your Door
If you are not clear with concept of Valid Contract, it can become a nightmare for you as you can get entangled in various elements of a valid contract. In order to ensure that you don’t face such a situation, we are here to help you. Before moving to the elements of a Valid Contract, let us know what a valid contract is.
What is a Valid Contract?
As a simple explanation, valid Contract is a written agreement signed between two parties, which comply with essentials of a contract. It is binding and is enforceable on all parties.
What are the essential elements of a Valid Contract?
Our subject experts of Essentials of a Valid Contract homework help will explain the essential elements from scratch so that you can understand them easily. Following are the essential elements of a Valid Contract:
- Offer and approval:
A party must present an offer and its acceptance by the other party. The offer, when accepted, becomes an agreement.
- Legal relationship:
There should include a creation of a legal relationship between the parties. If one of them fails to keep his part of his promise, he would be liable for legal consequences.
There should be a mutual consent between the parties while signing the agreement.
- Competency of the parties:
The parties should be capable enough to enter into the agreement.
- Lawful considerations and objects:
The consideration of something in return is what makes an agreement a valid contract. For the validity of the contract, the agreement needs to go through certain lawful considerations, which have been discussed by Essentials of a Valid Contract assignment help experts.
- Agreementis not expressly declared void:
An agreement will not become a contract if it is expressly declared void by any law of the country.
- Performance certainty:
The agreement should be certain and possible and should not contain any point which is vague or unclear. If there is an agreement to perform something impossible, it will be declared void.
- Legal formalities:
In writing, the agreement will become a contract only it complies with all the legal formalities like attestation and registration.
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