CONTRACTUAL LAW

Contractual Law

In general, four elements of a valid contract are:

There should be at least two parties for an agreement

The terms and conditions of contract should be accepted by both parties.

The agreement should provide value and consideration to both parties.

A contract should consist of legal activities. (William, 2001, Pp. 86)

The Objective Theory of Contracts is the set of guidelines which describes that the contract is not an agreement in view of subjectivity of minds. Although a contract is a series of action gives the objective appearance of an agreement. This states that the presence of contract is determined but the ...