Contract law exam questions and answers

1 Offer and acceptance.
A contract is formed when an offer by one party is accepted by the other party. 2 Intention to create legal relations.
A contract does not exist just because there is an agreement between two or more people. 3 Consideration. 4 Legal capacity. 5 Consent. 6 Illegal and void contracts.
What are the three rules of contract law?
In common law, there are 3 basic essentials to the creation of a contract: (i) agreement; (ii) contractual intention; and (iii) consideration. 3.
The first requisite of a contract is that the parties should have reached agreement..
Enforcing a contract comes down to six key elements: offer, acceptance, awareness, consideration, capacity, and legality.
If a contract lacks any of these elements, you may not have the legal right to enforce it.
In common law, there are 3 basic essentials to the creation of a contract: (i) agreement; (ii) contractual intention; and (iii) consideration. 3.
The first requisite of a contract is that the parties should have reached agreement.

What are the three rules of contract law?