EXAM- Elements Of A Contract Flashcards
1
Q
Intention to create a legal agreement
A
Parties intending to make legal and binding obligations with another
2
Q
Agreement/acceptance
A
Written or oral statement that indicates the person is willing to accept the offer
3
Q
Consideration
A
Something of value that passes from one party to another which completes the contract
4
Q
Contract
A
A legal agreement that can be enforced by law
