Supplying Gloria Smithson 's Company With Necessary Widgets

An offer allows the person or business to whom the offer is made to, to reasonably expect that the offering party is willing to be bound by the offer based on the terms proposed thus these terms of an offer must be define as well as certain.

A contract requires four elements to be valid. Essential elements in any contract include the following: agreement, consideration, legal ability, and a legal object (Kubasek, Browne, Herron, Dhooge, & Barkacs, 2016). The agreement includes the offer made to the other party who then agrees to enter into the contract. The consideration includes the exchange each party receives as a result of the contract. The legal ability is capacity one has to enter into a legal contract. The legal object is the legality of the contracted issue. These elements together create an effective, valid contract.

2. A legal subject matter. A court will not uphold a contract requiring anyone to do something illegal.

Contract is between two or more parties promises to form an agreement with specific terms do something in return for benefits and legally enforceable. The contract will create rights and obligations that may be enforced by the law. It required these elements: “Competent Parties, Proper Subject Matter, Consideration, Agreement, Clarity and Consent of the Parties.”

Various elements must be present to prove that a valid contract exists between Sam and the chain store. A contract is a written or verbal agreement that usually involves employment, sales, and tenancy that can be upheld by the law. Contracts are more than just fulfilling a promise between parties. There are four elements to a contract. The four elements to a contract are agreement, consideration, contractual capacity, and legal object. The first element of agreement would be deemed to exist if the offeror of one party makes an offer to another party, and the offeree accept the offer from another party. At this time it is not a legal contract unless the exact terms of the contract are accepted. The second element of consideration would be

Capable of acceptance by the offeree, offeree is the person receiving the offer. A valid agreement must be constituted by Offer and Acceptance. For the responses to an offer, everyone can accept

In the formation of contracts two elements are vital. Firstly, the "offer," an indication by one person prepared to contract with another,

for it to qualify as a proper contract in the eyes of the law: offer

Acceptance either can be quantified or inferred by the offeree’s conduct; however, judgment must be objective. Forming a binding contract, requires relaying acceptance in a manner authorized, requested, or at least reasonably expected by the offeror (Acceptance, n.d.).

For an offer to be satisfied, there are rules to be considered. The offer has to be complete, promissory, intention to undergo a contract when accepted, and focused on an individual or a group. In addition,

The first element in a valid contract would be offer. An offer or an agreement needs to be in contract because without offer there is no contract. In the Contracts Act 1950 the first elements is an offer.

A legally binding contract is formed with the presence of four key elements. Namely these are offer, acceptance, consideration and an intention to create legal relations. Should one of these elements be missing the contract cannot be legally enforceable.

Acceptance must be absolute and unqualified, which means the promisee’s intention to accept must be clearly understood; it must also be accepted in some usual and reasonable manner, unless the proposal prescribes the manner in which it is to be accepted (S. 7(a)(b) CA 1950). Both offer and acceptance can be either expressed or implied. In general, acceptance cannot be withdrawn once it has been made.

An offer should be definite and should be made under such circumstances that the person receiving the offer has reason to believe that the offeror is willing to deal on the terms indicated.

A contract is a promise or a set of promises that one party makes to another and that can be enforced using law. Contracts are made for commercial bargains. A contract is legally binding. It entails selling or hire of commodities such as services, goods or land. The major elements required for a legally binding contract are offer and its acceptance . When one person expresses an offer on outlined terms to contract and the offeree indicates that they have agreed to the set terms, the contract becomes legally binding. There is usually no room for negotiations after a contract has been made. Therefore, an offer that is valid must be in existence. There are requirements for existence of such a valid offer. This essay assesses the requirements.