Unfortunately, the distinction between the law and legal is not straightforward nor is it easy to explain. The best summation that I have heard is that the law concerns itself with substance and legal pertains to form. However, this is not quite accurate as we shall see. Black’s Law Dictionary – Sixth Edition defines the […]
For today’s post we will take a look at the 6th element which is Legality of Object. Legality of Object The sixth element of a contract is the legality of object, which means that the subject matter of the contract must be legal and not against public policy. In other words, the purpose of the
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For today’s post we will take a look at the 5th key element of a contract which is Consent. Consent Both parties must give their consent to the terms of the agreement freely and without coercion. If one party is forced or coerced into entering into the contract, it may be invalid. Specht v. Netscape
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For today’s post we will take a look at the 4th element which is Capacity to Contract. Capacity to Contract For a contract to be valid, all parties must have the legal capacity to enter into the agreement. This means that they must be of legal age, not under duress, and not under the influence
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For today’s post we will take a look at the 3rd key element of a contract which is Intention to Create Legal Relations. Intention to Create Legal Relations Both parties must intend for their agreement to be legally binding. This means that they must have a genuine intention to create legal relations. The following case
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For today’s post we will take a look at the 2nd key element of a contract which is Consideration. Consideration Consideration is something of value that each party gives to the other as part of the contract. It can be in the form of money, goods, or services. For a contract to be valid, there
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For today’s post we will take a look at the first key element of a contract which is Offer and Acceptance. Offer and Acceptance An offer is a proposal made by one party to another, indicating that they are willing to enter into a contract under certain terms. The acceptance is the other party’s agreement
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Contracts are legal instruments that govern business and personal transactions. They are legally binding agreements between two or more parties that outline the terms of the transaction. For a contract to be valid, it must contain six essential elements. These elements are: We will briefly explore each of these elements so that we can get
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