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The untimely acceptance of an offer. Such an acceptance is not valid although it does have the legal status of a counteroffer. The general rule is that silence does not constitute acceptance.
In a broader sense, silence can signal acceptance of terms in relationships where silence has been interpreted as such in the past. In addition, actions in the affirmative (such as carrying out one's terms of the offer) also can be construed as acceptance, regardless of whether anything was communicated verbally.
All business contracts must contain the essential elements of an agreement. The essential elements include consideration, offer and acceptance, a legal purpose, capable parties and mutual assent. Consideration means something of value must be exchanged.
The object of the agreement is illegal or against public policy (unlawful consideration or subject matter) The terms of the agreement are impossible to fulfill or too vague to understand. There was a lack of consideration. Fraud (namely false representation of facts) has been committed.
Generally, to be legally valid, most contracts must contain two elements:All parties must agree about an offer made by one party and accepted by the other.Something of value must be exchanged for something else of value. This can include goods, cash, services, or a pledge to exchange these items.