Question

What are the elements of a contract?

1) Offer
2) Consideration
3) Appeal
4) Mutuality

Answer 1

The elements of a contract include offer, consideration, and mutuality.

Step-by-step explanation:

The elements of a contract are:

1. Offer: An offer is a proposal made by one party to another, indicating a willingness to enter into a contract. It must be specific, definite, and communicated to the other party.
2. Consideration: Consideration refers to something of value that is exchanged between the parties to a contract. It can be money, goods, services, or any other benefit.
3. Mutuality: Mutuality means that there must be a meeting of the minds between the parties and a mutual agreement to the terms of the contract. Both parties must fully understand and agree to the terms.