 |
|
| Home : Contract Law : Legal Elements Of A Contract | |
Legal Elements Of A Contract
There are three factors necessary to
create a contract: 1) an offer, 2) acceptance, and 3) consideration. One party
makes an offer, the second party must accept the offer and there must be
consideration exchanged. Consideration has to be something of value. All of
these factors must be met for the contract to be enforceable.