Virgin Islands Agreement that Contract Contingent on Attorney Approval
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How to fill out Agreement That Contract Contingent On Attorney Approval?
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FAQ
There must be what is called a ?meeting of the minds? between the parties of the contract. This means both parties to the contract understand what offer is being accepted. The acceptance must be absolute without any deviation, in other words, an acceptance in the ?mirror image? of the offer.
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.
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.
Elements of a Contract Offer - One of the parties made a promise to do or refrain from doing some specified action in the future. Consideration - Something of value was promised in exchange for the specified action or nonaction. ... Acceptance - The offer was accepted unambiguously.
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. In some states, elements of consideration can be satisfied by a valid substitute.
