David Contracts Written Project Essay Example | Topics and Well Written Essays - 750 words

David Contracts Written Project - Essay Example In this similar concern, it can be affirmed that both the parties can be benefited from making a contract. It has to be enforceable by law. Though contracts can be of verbal or written type, preference must always given to the written contracts as they are quite uncomplicated to confirm in front of law (Dervort 107-108). DISCUSSION OF CONTRACT ELEMENTS Contracts are a kind of legally binding agreement by both the parties to a contract. Parties to a contract must know and understand that the agreement is enforceable by law. Contracts which are unlawful are void and not enforceable in the court. One of the important pre-conditions of the development of a contract is its legality (Cheeseman 1-250). Offer is principally viewed to be an expression of readiness which especially makes by an offeror with the intention of getting the offer duly accepted by an offeree. It is worth mentioning that offer is often viewed to be one of the initial as well as one of the influential elements of a con tract. Offer is duly considered to be an important contract element as it is viewed to be the initial step in entering into a particular contract (Dervort 107-108). It can be viewed that when an offeree agrees upon the offer which provides by an offeror, then it certainly becomes an acceptance. With the completion of acceptance process, both the parties come under a specific contract. Without the acceptance, contracts can never be formed. It is to be stated that an acceptance can be in both forms i.e. written or oral. Consideration is typically considered to be an act of a contract process. With the significant concern of consideration, individuals making a contract promise to perform or abstain from performing certain act. It has been apparently observed that consideration comprises either harm to the promisee or a benefit on behalf of the promisor. In the contract agreement, consideration plays an important role for the promises made by both the parties. Specially mentioning, it h as to be enforceable by lawful regulations (Dervort 107-108). There are many countries, which set a standard age for the age of majority. For most of the nations, it is 18. Any age below the age of 18 is called age of minority. There is an Infancy Doctrine made for the minorities. This doctrine states that minors need to be protected from the unscrupulous behavior of the adults. Minors can also rescind the contract as per as this doctrine is concerned. In the matter of writing, a contract needs to be formal and properly signed, expressed and with implied reference (Cheeseman 1-250). Contracts have to be legal and thus they must be presented and proved at the court. Contracts are generally viewed to be ‘meeting of the minds’ as two or more individuals can enter into a particular contract. In terms of legality, contracts need to be presented to another party without using fraud, threatening or other illegal activities. In order to determine the contract element i.e. legal ity, it is to be stated that the prime intention of a particular contract must be for a lawful purpose. The general law of contracts and many state statutes protect individuals who lack contractual capacity from having contracts forced especially on them. The requirement of parties accent needs to be real and genuine (Dervort 107-108). On the other hand, the contract element concerning meeting of the mind