Offer and Acceptance

Define law of contract. Discuss the elements required forming a Valid Contract.

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Law of Contract and Essentials of a Valid Contract

LAW OF CONTRACT A contract is defined as a legally binding agreement between a minimum of two parties to perform or refrain from performing certain actions. As articulated by A.J. Salmond: “A contract is an agreement that establishes and delineates obligations between two or more parties.” ESSENTIAL ELEMENTS OF A ENFORCEABLE AND VALID CONTRACT A … Read more

All agreements are not contracted but all Contracts are Agreements. Do you agree? Discuss the essential elements for Valid Agreement.

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all-contracts-vs-all-agreements

Not all agreements qualify as contracts. Only those agreements that are legally enforceable are considered contracts. The Contract Act governs those agreements that establish obligations, providing a legal remedy in the event of a breach by one party. Therefore, a contract comprises two essential elements: However, certain agreements lack enforceability under the law. Such agreements … Read more