What factors must be considered in assessing the legal sufficiency of an offer, acceptance, and consideration in determining whether a contract is enforceable?
Question
Prepare a 2- to 3-page document explaining the essential elements of a contract and the applicable remedies in the event of a breach.
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(1) What is required for a valid offer?
(2) How can one accept an offer?
(3) (a) What is the concept of consideration and (b) what form(s) can consideration take in creating a contract?
(4) What factors must be considered in assessing the legal sufficiency of an offer, acceptance, and consideration in determining whether a contract is enforceable?
(5) In the event that a contract is formed and subsequently broken, what remedies are available to the non-breaching party under your state’s law?
As always, please make sure your spelling, punctuation, and grammar are correct, please make sure to reference your sources in APA format.
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