COMM 304 Lecture Notes - Lecture 7: Meeting Of The Minds, Debenture, Fiduciary
Document Summary
The element of a valid contract: an intention to create a legal relationship, offer : must be definite, acceptance, consideration, capacity to contract and, legality. In an electronic substitute: or take on a special form. Consensus ad idem: agreement as to the subject or object of the contract: agreement. Once an offer is made, sign with witnesses there"s no going back: once the offer has been accepted, cannot be reversed. An offer can be withdrawn at any time before it is accepted. Definite offer: i hereby offer to sell you my car for ,000. I can either accept it have a mutual agreement. What would be the best price you would take for your car if you were to sell it: this is not a definite offer because just answering an enquiry. I make an offer to employ you in regina you counteroffer by saying.
