Formation of a Contract Contracts are an integral part of any business transaction, serving as legally binding agreements between parties. The formation of a contract is a crucial process that involves several essential steps to ensure validity and enforceability. These steps include offer, acceptance, consideration, and intention to create legal relations. Any failure to adhere […]
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Essential Elements of a Contract Contracts play a vital role in regulating commercial and personal transactions. They serve as a means of formalizing agreements and establishing a framework for parties to abide by the terms and conditions of the contract. The enforceability of a contract is contingent on the presence of essential elements, which form