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The correct sequence in the formation of a contract is :
- a)Offer, acceptance, agreement, consideration.
- b)Agreement, consideration, offer,acceptance.
- c)Offer , Consideration, acceptance, agreement.
- d)Offer,acceptance, consideration, agreement.
Correct answer is option 'D'. Can you explain this answer?
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Verified Answer
The correct sequence in the formation of a contract is :a)Offer, accep...
A contract is formed only if the parties intend to be legally bound by their promises and have clearly agreed on what those promises are. This is known as a meeting of the minds. The court will look for certain elements to determine whether a valid contract has been made. These are offer, acceptance, and consideration.
Every contract should have:
1. Offer;
2. Acceptance;
3. Consideration (although note the position in relation to Scotland below); and
4. Intention to create legal relations.
Hence, Correct Answer is Option D
Most Upvoted Answer
The correct sequence in the formation of a contract is :a)Offer, accep...
The correct sequence in the formation of a contract is:
1. Offer: An offer is a proposal made by one party to another indicating their willingness to enter into a contract. It must be clear, definite, and communicated to the other party.
2. Acceptance: Acceptance is the agreement of the offeree to the terms of the offer. It must be unconditional and communicated to the offeror in a manner specified in the offer.
3. Consideration: Consideration is the value exchanged between the parties to the contract. It can be in the form of money, goods, or services.
4. Agreement: An agreement is reached when there is a meeting of the minds between the parties to the contract. It means that they have agreed to the terms and conditions of the contract.
Therefore, the correct sequence in the formation of a contract is Offer, Acceptance, Consideration, and Agreement.
1. Offer: An offer is a proposal made by one party to another indicating their willingness to enter into a contract. It must be clear, definite, and communicated to the other party.
2. Acceptance: Acceptance is the agreement of the offeree to the terms of the offer. It must be unconditional and communicated to the offeror in a manner specified in the offer.
3. Consideration: Consideration is the value exchanged between the parties to the contract. It can be in the form of money, goods, or services.
4. Agreement: An agreement is reached when there is a meeting of the minds between the parties to the contract. It means that they have agreed to the terms and conditions of the contract.
Therefore, the correct sequence in the formation of a contract is Offer, Acceptance, Consideration, and Agreement.
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The correct sequence in the formation of a contract is :a)Offer, acceptance, agreement, consideration.b)Agreement, consideration, offer,acceptance.c)Offer , Consideration, acceptance, agreement.d)Offer,acceptance, consideration, agreement.Correct answer is option 'D'. Can you explain this answer?
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