Contract Basics

Question 1

What are the elements of a contract?

Answer 1

Offer + acceptance = agreement
Agreement + consideration = legally enforceable agreement

Question 2

Describe the objective approach courts take to interpreting contracts.

Answer 2

In contract law it is what the parties say or do which matters, not what they mean and the intention of the individual is judged by means of their outward conduct. A court will not attempt to engage in the futile task of reading the minds of the parties to the contract and will instead look at their words or actions in assessing their contractual intentions.