GBL 295 Lecture Notes - Lecture 1: Dementia
18 Apr 2017
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A contract is a legally enforceable exchange of promises between two or more parties. There are six essential elements of a contract: offer, acceptance, consideration, genuine assent, competent parties, a legal object, offer: The offer must show objective intent to enter into a contract by the offeror. The offer must be definite (must refer to specific terms and subject matter) The offer must be communicated by the offeror to the offeree. Once an offer has been made by the offeror, it will either be accepted or it will terminate. The offeree who wishes to accept the offer must demonstrate objective intent to do so. This intent must be communicated to the offeree. The intent must satisfy ( mirror ) the offer (in other words, if you offer to sell someone your car for ,000 and they write you back and say, i accept the offer.
