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elements of valid contract
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elements of valid contract Related: Nature of contract, Business Law?
1) All offers must be valid and once accepted, it binds both the parties into a valid agreement. The offree is now an acceptor, and thus the agreement is made between an offeror and an acceptor. The adjective lawful suggests that the offer and acceptance must satisfy the recruitments of the contract act in relation.
2) Two Parties: – A valid contract must include at least two parties identified by the contact. One of these parties will propose the offer and the other party will eventually accept it. Both parties should have legal existence, e.g. must be companies, schools, organizations, etc. or natural persons.
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elements of valid contract Related: Nature of contract, Business Law?
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elements of valid contract Related: Nature of contract, Business Law? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about elements of valid contract Related: Nature of contract, Business Law? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for elements of valid contract Related: Nature of contract, Business Law?.
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