Business
Contract Analysis
Introduction
People have a usual misconception that contracts are the same as agreements; the only difference is that when an agreement encompasses enforceability by law when is it becomes a contract. The provisions of the law in which the five essential elements should exist in order to consider its validity bind contracts. An enforceable contract must demonstrate offer and acceptance, legal objective, mutual obligations, consideration and competent parties. These elements will be explored by analyzing an actual contract and determine whether it constitutes all the aforementioned elements. For this analysis, the sampled contract will be an actual ...