Elements of a Valid Contract

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Business Law Mrs Ramloll Ann-Julie Ah Nah Lee Ken Sang BA(Hons) Human Resources Acknowledgements Even though the following assignment is an individual piece of work, the contribution of many people who have helped, supported and guided me throughout the realisation of this paper cannot be overlooked. First and foremost, I would like to thank my parents for their endless encouragement and unwavering faith in my abilities, which have shaped me into the person I am today. I take this opportunity to express my gratitude and deep regards to my Business Law’s Lecturer, Mrs Ramloll, for her guidance through her lectures notes each week, monitoring and constant encouragement. She has shared so much of her knowledge and permits us to understand what a contract is. I also take this opportunity to express a deep sense of gratitude to the library of Rushmore Business School for giving me good support to illustrate my assignment in terms of academic journals and books. I would also wish to put on record my sincere gratitude to my cousin who act as a Big Sister to guide and encourage me. Lastly, I thank almighty my best-friends for their constant encouragement and advices without which this assignment would not be possible. Executive summary The purpose of this assignment is to underline what is a contract and the main elements for a valid contract create by the law. By definition, a contract is an agreement between two or more persons, and is enforceable by a court of law or equity. To be enforceable, a contract must contain certain basic information that courts have determined over the past several centuries to be necessary. The principles of what must be agreed for a contract to be enforceable date back nearly to the foundations of the English common law. The assignment is divided 3 parts with include: * The introduction will highlight what is a

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