BUSINESS LAW
PART A 1. A contract refers to an agreement or a promise that is legally enforceable (Carter, 2006). In most cases, two parties are involved in making the agreement. For an agreement to be considered to be a contract, it must have some basic elements. The first basic element of a simple contract is offer (Allan and Hiscok). In general, terms, offer is the willingness that a party to the contract may express to certain terms of the contract. The offer is mostly made with the intention that the agreement immediately becomes binding after the offer has been accepted by the offeree ( ...