Example Of Contract Contracts

A contract is a written or expressed agreement between two or more parties to perform a service, provide a product or commit an act for a valuable benefit known as consideration and is enforceable by law. The agreement will make rights and obligations that may be ad-mistered in the court. There are different types of contracts, and each have specific terms and conditions. We perform contracts every time and everywhere without knowing we are into it an example of such contract we do is when we are buying and selling of goods from a supermarket, taking a bus etc. For a contract to be formed there must be an offer, offeree and offeror. An offer is a proposal or manifesto to contract which is accepted completes a contract. An Offeror is the maker of an offer while an offeree receives the offers made by an offeror.
There are many types of contracts but the main are Bilateral

The first element in a valid contract is Offer. An offer can also be called a promise .it is the willingness to enter into an agreement. It compulsory in a contract because if there is no offer there can never be a contract. To make an Offer two parties must be available (Offeree and Offeror). It may be addressed to one particular person, a group of persons, or the world at large. For Example A bus Driver offering to offer anybody in his bus to their destination in exchange for money. An offer can also be revoked or taken back by the offeror at any time before acceptance, It is also possible to terminate an offer, or take the offer off completely which can be caused by the Death of either party, Insanity of either party, Death or destruction of the person or the thing required to perform the contract terms. If the offeree knows that the offeror has died, the offer will be terminated but if the offeree is not aware of the offeror’s death the offer wouldn’t be terminated will not Bradbury v