6 Key Elements of a contract

Criminal Intent - 6 Key Elements of a contract

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1. Offer. An offer can be oral or written as long as it is not required to be written by law. It is the specific expression or an overt operation which begins the contract. It is simply what is offered to someone else for the return of that person's promise to act. It cannot be ambiguous or unclear. It must be spelled out in terms that are specific and certain, such as the identity and nature of the object which is being offered and under what conditions and/ or terms it is offered.

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Criminal Intent

2. Acceptance. As a general proposition of law, the acceptance of the offer made by one party by the other party is what creates the contract. This acceptance, as a general rule, cannot be withdrawn, nor can it vary the terms of the offer, or alter it, or modify it. To do so makes the acceptance a counter-offer. Though this proposition may vary from state to state, the general rule is that there are no conditional acceptances by law. In fact, by development a conditional acceptance, the offeree is rejecting the offer. Any way the offerer, at his choosing, by act or word which shows acceptance of the counter-offer, can be bound by the conditions tendered by the offeree.

3. Consideration. Observation for a covenant may be money or may be someone else right, interest, or benefit, or it may be a detriment, loss or accountability given up to person else. Observation is an beyond doubt important element of a contract. As a word of caution, it should be noted that Observation has to be expressly agreed upon by both parties to the covenant or it must be expressly implied by the terms of the contract. A possible or accidental advantage or detriment alone would not be construed as valid consideration. The Observation must be explicit and adequate to withhold the promise to do or not to do, anything is applicable. However, it need not be of any singular monetary value. Mutual promises are adequate and valid Observation as to each party as long as they are binding. This rule applies to conditional promises as well. As further clarification, the general rule is that a promise to act which you are already legally bound to do is not a adequate Observation for a contract. The courts resolve the application.

4. Capacity of the Parties to Contract. The general presumption of the law is that all habitancy have a capacity to contract. A person who is trying to avoid a covenant would have to plead his or her lack of capacity to covenant against the party who is trying to impose the contract. For example, he would have to prove that he was a minor, adjudged incompetent or drunk or drugged, and so forth. Often this is the most difficult burdens of proof to overcome due to the presumption of one's quality to contract.

5. Intent of the Parties to Contract. It is a basic requirement to the formation of any contract, be it oral or written, that there has to be a mutual assent or a "meeting of the minds" of the parties on all proposed terms and important elements of the contract. It has been held by the courts that there can be no covenant unless all the parties complicated intended to enter into one. This intent is determined by the outward actions or actual words of the parties and not just their private intentions or desires. Therefore, mere negotiations to arrive at a mutual business transaction or assent to a covenant would not be determined an offer and acceptance even view the parties agree on some of the terms which are being negotiated. Both parties must have intended to enter into the covenant and one can not have been misled by the other. That is why fraud or confident mistakes can make a covenant voidable.

6. Object of the Contract. A covenant is not enforceable if its object is determined to be illegal or against group policy. In many jurisdictions contracts predicated upon lotteries, dog races, horse races, or other forms of gambling would be determined illegal contracts. Yet in some states these types of contracts are valid. Federal and some state laws make contracts in restraint of trade, price-fixing and monopolies illegal. Therefore, a covenant which violates those statutes would be illegal and unenforceable. This is true for drugs and prostitution or any other operation if determined criminal.

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