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Contract Law Basics

Arnab Kumar Banerjee
29/10/2018 0 0

The contract is made between 2 parties. It is a tool about the agreement of 2 parties on a particular matter. The essential elements of a valid contract are :

  • Offer and acceptance.
  • Mutual consent of parties.
  • Intention to create a legal obligation.
  • Free consent of parties.
  • Parties must be competent to contract.
  • Lawful object.
  • Lawful consideration
  • Possibility of performance
  • Certainty
  • Legal formalities
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