BUSINESS ADMINISTRATION
BUSINESS LAW
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Detailed explanation-1: -Generally, where it is proven that an agreement was made, the agreement will be deemed as a legally binding contract if the six elements to a contract are present. The six elements are Offer, Acceptance, Consideration, Intention, Capacity, and Legality.
Detailed explanation-2: -The basic elements required for the agreement to be a legally enforceable contract are: mutual assent, expressed by a valid offer and acceptance; adequate consideration; capacity; and legality.
Detailed explanation-3: -If it is proven that an agreement has been reached, the agreement is generally considered a legally binding contract if all six elements of a contract are present. The six elements are offer, acceptance, consideration, intent, legality and capacity.
Detailed explanation-4: -A valid contract requires an offer to be accepted, whereas an invitation to treat is not an essential element of a contract. Whilst an offer can be accepted, an invitation to treat is merely an invitation or willingness to negotiate that one party makes to the other.