contracts

contracts - BASIC CONTRACT LAW FOR PARALEGALS OVERVIEW OF...

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BASIC CONTRACT LAW FOR PARALEGALS OVERVIEW OF CONTRACTS
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CONTRACT: A legally enforceable agreement that meets certain specified legal requirements between two or more parties in which each party agrees to give and receive something of legal value
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BASIC CONTRACT REQUIREMENTS: 1. Offer 2. Acceptance 3. Consideration 4. Legality of subject matter 5. Contractual capacity 6. Contractual intent
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Offer: A proposal by one party to another manifesting an intent to enter into a valid contract. Acceptance: Manifestation of assent to the offer proposed. Consideration: The bargain of the contract; the subject matter of the contract not necessarily money
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Legality of subject matter: Can only be formed for a legal purpose and must fulfill any statutory regulations with respect to form. Contractual capacity: The ability of a person to enter into a contract. Contractual intent: The parties must
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This note was uploaded on 04/22/2008 for the course PLG 220 taught by Professor Maehrer during the Spring '08 term at Kutztown.

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contracts - BASIC CONTRACT LAW FOR PARALEGALS OVERVIEW OF...

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