Question

Name the 6 elements necessary to establish a contract.

Answer 1

The six elements necessary to establish a contract are offer, acceptance, consideration, legal capacity, legal purpose, and voluntary consent.

Step-by-step explanation:

To establish a contract, there are six necessary elements:

1. Offer: This is a specific proposal made by one party to another. It includes the terms and conditions of the agreement.
2. Acceptance: The other party must unequivocally accept the offer. It creates an agreement between the parties.
3. Consideration: Each party must provide something of value (e.g. money, goods, services) in exchange for the other party's promise.
4. Legal capacity: Both parties must have the legal capacity to enter into a contract. This means they must be of legal age and mentally competent.
5. Legal purpose: The contract must have a legal purpose and cannot involve illegal activities.
6. Voluntary consent: The agreement must be entered into voluntarily, without any coercion, fraud, or undue influence.