Description
PART A- Answer question with a minimum of 250 words and be substantiated by at least one reference properly APA formatted.
1. What are the elements of a valid legal contract?
2. Can a Contract be validly formed if all elements are not present?
3.What is the difference between an offer and an invitation to treat? Be sure to give examples to validate your position.
Unformatted Attachment Preview
Purchase answer to see full attachment
Explanation & Answer
Attached.
1
Running Head: LEGAL CONTRACT
Legal Contract
Students Name
Institutional Affiliation
Date
LEGAL CONTRACT
2
PART A
Elements of a valid legal contract
Some of the components of a lawful legal agreement include; Acceptance, Legality,
Offer, Capacity, Consideration, Meeting in mind, and some written documents. Every contract
has two or more members. The type of contracts in the business world can either be in writing,
with action, or verbally. A contract cannot be legally recognized if it lacks any of the elements of
a legal agreement. (Yonjan,2019).
Legality - This state that no contract should be fashioned to govern any illegal trade or
services. Every member of a business should have legal intent.
Acceptance – When the offer is extended, the offeree can either accept or reject the
extended proposal with its terms and condition. It can either be received via email, mail, or
verbally.
Offer – It should be extended for a contract to commence. It should include agreement
details and its terms and condition.
Meeting in mind – This refers to the moment when each member is familiar with the
contract agreeing to enter into an obligation. It is also known as a genuine or mutual agreement.
Consideration – Valuable things must be exchanged for it to have a legal requirement.
The valuable things include protection, property, or products.
Capacity – For a contract to be considered valid, each member should be able to have the
legal ability.
The main difference between an offer and an invited treat is that an invited treat is
simply an information supply to tempt a member in making an offer while an offer, as described
LEGAL CONTRACT
3
above, is created when a member displays the willingness to enter into a contract that is legally
bound.
PART B
Please respond to the following questions based upon these course objectives:
1. Explain the different legal systems in the Caribbean context;
The legal system of the Caribbean Commonwealth is described to be mi...