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A contract is a legal agreement between two or more parties in which they agree to each other's rights and responsibilities. Offer, acceptance, awareness, consideration, and capacity are the five elements of an enforceable contract.
Fixed-fee, or flat-fee, pricing is a model of billing where a lawyer charges a client an agreed-upon cost for the full scope of legal services. Flat-fee billing is sometimes referred to as an alternative fee arrangement and gained traction with small law firms and solo practitioners.
The Nature of a Contract 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.
What are the elements of a valid contract? For a Kansas court to enforce a verbal agreement, it must contain the essential elements of a contract. These elements include an offer, acceptance, and consideration. An offer is a proposal by one party to enter into an agreement with another party.
There are seven essential elements an agreement must have to be considered a valid contract. The elements of a contract include identification, offer, acceptance, consideration, meeting of the minds, competency and capacity, and contract legality. Preferably, the document will be in writing (electronic or on paper).
"Contract" defined. "Contract" means any agreement including but not limited to sales and conveyances of real and personal property and agreements for the performance of services.