BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -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-2: -In order for an offer to be valid, it must be clearly communicated, giving the offeree a chance to accept or reject it. Clear communication can include actions, oral communication, or in writing. A valid offer can be made to a group, a single person, or the public at large. Valid offers are definite in their substance.

Detailed explanation-3: -Illegal contracts are those that require either party to engage in an illegal activity to fulfill the contract. This would not be considered a legal contract by the court and could not be enforced. Thus, illegal contracts are void and neither party will be entitled to relief if the other party breaks the contract.

Detailed explanation-4: -A valid offer creates a legal relationship which means there must be an intention of the offeror to work under legal obligation or to be legally bounded by law not under social obligation. For example : “X” (Father of Y) says to “Y”, if he pass the exam he will get a new video game.