What is Required to Form a Contract

What is Required to Form a Contract

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Business, Social Studies

University

Hard

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A contract is an agreement between individuals that shows a mutual understanding. It can involve promises or actions. To form a valid contract, three elements are essential: an offer, acceptance, and consideration. These elements are crucial and require detailed understanding.

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2 questions

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1.

OPEN ENDED QUESTION

3 mins • 1 pt

What does 'meeting of the minds' refer to in the context of a contract?

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2.

OPEN ENDED QUESTION

3 mins • 1 pt

How can an offer be described in the context of contract law?

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