There are a few key considerations that must be a part of a contract in order for it to stand up in court. They are a) offer, b) acceptance, and c) consideration. Any objections to an orginal offer constitutes a counter offer, not acceptance, which initiates a whole new contract. Consideration must also be a part of it, and this consists of something of value or something to be deemed as having value by the two parties.
Tune in as Kevin Hunter and Jeff O'Brien dig into Contract Law and it's elements over the next few weeks.
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