Three Elements Of A Contract

A contract is any agreement that is enforceable in a court of law is a contract. The following are the elements of a contract:
Agreement
A contract is an agreement. Lawyers themselves often use the word ‘agreement’ to refer to a formal document signed by the parties, and many people wrongly believe that that is used in its ordinary sense. Two people are in agreement when they are in the same mind about something and to say they are in agreement necessarily implies that they have communicated with each other. The cations in order to identify the precise point at which agreement was reached.

Offer
The offer sets out the terms upon which the offeror is willing to enter into written agreement with the offeree. So as to be capable of acceptance,

If the offeree does not provide any consideration for the offer to be kept open, then the original offeror is at liberty to withdraw the offer at any time, as was seen

-In relation to unilateral contracts, revocation is not permissible once the offeree has started performing the task requested A unilateral contract is one where one party promises something in return for some action on the part of another party.

Lapse of offers
Offers elapse and are no longer capable of acceptance in the following circumstances:
- At the end of a stated period It’s possible for the parties to agree, or for the offeror to set, a time limit within which acceptance had to take place. If the offeree has not accepted the offer within that period, the offer lapses and can no longer be accepted.

- After reasonable time Where no time limit is set, then an offer will lapse after the passage of a reasonable time. What amounts to a reasonable time is, of course, dependent upon the particular circumstance of each