International Legal and Ethical Issues in Business
Abstract
For an agreement to be considered a valid contract, it should have four vital elements that include an offer, acceptance, intention to be under legal consequences, and consideration. If any of the mentioned terms are missing from the contract, it is not legally binding. Objective theory of contracts is a legal notion that rejects the enforcement of thelaw that appears to be too good to be true. The contract, according to this theory, is binding only if a reasonable person from outside will judge objectively that the offer has been made, and it has been accepted. The soft drink company, in ...
