THE ELEMENTS OF CONTRACT

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English law states that a legally contract must have four elements. These elements are intention to create a legal relationship, offer, acceptance and consideration.
A contract is an agreement. The agreement is usually between two people or two businesses. The law describes these two people or businesses as the to the contract. The first element of a contract is that there must be intention on both sides to enter into a legal relationship. In English law, a court refers to previous cases, known as to see who has intention to contract and who does not. It often depends upon the relationship between the people concerned.
The second element of a contract is offer. An offer is a proposal. This proposal is on that are absolutely certain. If there is any uncertainty, then the proposal is not an offer in the eyes of the law. However, it is possible for an offer to end before acceptance. Perhaps, for example, too much time passes before acceptance. A court will say that the offer has . Another way that an offer can end before acceptance is that the offeree (the person who receives the offer), suggests some change. This results in a -offer. The legal effect of this is to cancel the original offer. Another way for an offer to end is for the offeree to say 'No, thank you”. This refusal means that the offeree clearly the offer and the offer is no longer open to acceptance after that.
The third element of a legally binding contract is acceptance. Case law states that it is the duty of the person accepting the offer to make sure the offeror knows about the acceptance. It is not enough to send acceptance. If the offeror does not actually RECEIVE the acceptance, then there is no contract.
The final element is consideration. English law states that there must be an of consideration to make a legally binding contract. In other words, consideration must travel in both directions. A very formal way to describe this situation is to say that consideration must be . The people concerned in the contract must either gain a or suffer a detriment to make a contract that the law recognises.