BUS670: Legal Environment (MFH1136A)

Apr 28th, 2015
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Ashford University
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This paper is designed to name, explain and describe the four essentials that make a contract legal and binding. Internet articles were used to support rationale and assumptions in this paper. This paper will distinguish an offer from an invitation to treat. The internet articles used display contract basic requirements and detail the four essentials of a contract.

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Contract Legality: Essential CriteriaKeith C. QuarlesAshford UniversityBUS670: Legal Environment (MFH1136A)Michael Burton9-10-11 Abstract This paper is designed to name, explain and describe the four essentials that make a contract legal and binding. Internet articles were used to support rationale and assumptions in this paper. This paper will distinguish an offer from an invitation to treat. The internet articles used display contract basic requirements and detail the four essentials of a contract. In order to enter into a legal, binding contract agreement we must first know what the four essential ingredients are that makes a contract valid. The four essentials of a contract provide not only guidance for creating a valid contract but also recourse for litigation involving contract disputes. Verbal, written, and implied contracts are all held to the standard that is mandated by contract law that requires an offer, acceptance of the offer, consideration and intent of legal consequence. Four Essential Elements of a ContractAn offer is basically a declar

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