BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -The whole process of entering into a contract starts with an offer by one party, an acceptance by another party, and an exchange of consideration (something of value).

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. In some states, elements of consideration can be satisfied by a valid substitute.

Detailed explanation-3: -Whether a contract is 200 pages or 10 pages, to be a legally binding agreement they must contain six basic elements: Offer, Acceptance, Awareness, Consideration, Capacity, Legality.

Detailed explanation-4: -Consideration is a promise, performance, or forbearance bargained by a promisor in exchange for their promise. Consideration is the main element of a contract. Without consideration by both parties, a contract cannot be enforceable.