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To be legally enforceable, an agreement must contain all of the following criteria: An offer and acceptance; Certainty of terms; Consideration; An intention to create legal relations; Capacity of the parties; and, Legality of purpose.
The elements of a claim for breach of contract are the existence of a contract, breach, and damages.
Formation of a contract under Alaska law requires four elements: an offer that includes all essential terms, an unequivocal acceptance, consideration, and mutual intent to be bound. Thomas v. Archer, 384 P. 3d 791, 797 (Alaska 2016).
Contract actions to be brought in three years. Unless the action is commenced within three years, a person may not bring an action upon a contract or liability, express or implied, except as provided in AS 09.10. 040, or as otherwise provided by law, or, except if the provisions of this section are waived by contract.
The basic elements required for the agreement to be a legally enforceable contract are: mutual assent, expressed by a valid offer and acceptance; adequate consideration; capacity; and legality.
Contract actions to be brought in three years. Unless the action is commenced within three years, a person may not bring an action upon a contract or liability, express or implied, except as provided in AS 09.10.