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  • 3ditetnct: Recipso Cal Ucuisus

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    Annu Attri
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    This document discusses key elements of business law contracts. [1] A contract is a legally binding agreement between two or more parties that outlines their mutual and voluntary obligations and remedies for nonperformance. [2] For a contract to be enforceable, it must be agreed upon by all parties, all parties must have legal capacity to enter the contract, there must be mutual understanding and consideration among parties, and it must have lawful subject matter and comply with required formalities. [3] A contract creates a set of legally enforceable obligations between the agreeing parties.

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    This document discusses key elements of business law contracts. [1] A contract is a legally binding agreement between two or more parties that outlines their mutual and voluntary obligations and remedies for nonperformance. [2] For a contract to be enforceable, it must be agreed upon by all parties, all parties must have legal capacity to enter the contract, there must be mutual understanding and consideration among parties, and it must have lawful subject matter and comply with required formalities. [3] A contract creates a set of legally enforceable obligations between the agreeing parties.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    99 views2 pages

    3ditetnct: Recipso Cal Ucuisus

    Uploaded by

    Annu Attri
    This document discusses key elements of business law contracts. [1] A contract is a legally binding agreement between two or more parties that outlines their mutual and voluntary obligations and remedies for nonperformance. [2] For a contract to be enforceable, it must be agreed upon by all parties, all parties must have legal capacity to enter the contract, there must be mutual understanding and consideration among parties, and it must have lawful subject matter and comply with required formalities. [3] A contract creates a set of legally enforceable obligations between the agreeing parties.

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