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What is contract?

What is contract?

by Mst: Afrin Anam pael -
Number of replies: 0

When two parties or more than two parties make an agreement of their transaction that is called a contract.

There are some elements in a contract that should be considered . Such as:

1. Offer and Acceptance.

2. Intention to create a legal relationship.

3. Capacity to Contact

4. Free consent

5. Lawful Object

6. Lawful Consideration

7. Certainty and Possibility of Performance

8, Legal formalities