Establish Highlight Contract For Free

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.

A contract involves two or more parties who are competent to enter into a legally binding agreement....The 5 elements of a legally binding contract are made up of: An offer. Acceptance, Consideration. Mutuality of obligation. Competency and capacity.

There are four elements of a contract, in order to have a valid contract, all four must be present: ?Offer. This is the first step towards a contract.Acceptance. The party to whom the offer was made must now agree to the terms of the original offer.Consideration.?Capacity.

A redline contract is one that has been edited by one or more parties. That change is made with a different color ink (red, black, or blue) than the original one. Redlining includes making changes to terms, the order of each section, whether a section should be omitted, and grammar edits.

All documents and contracts go through several drafts before reaching their final form. Redlining is the process of tracking changes between document drafts. The name derives from those familiar red lines word processing programs add under text when they track changes.

A contract has three distinct stages: preparation, perfection, and consummation. Preparation or negotiation begins when the prospective contracting parties manifest their interest in the contract and ends at the moment of their agreement.

Redlining in Microsoft Word is a feature that enables users to remove, add or edit text within a Word document, with the changes marked up in red. When users choose to delete text within the document, the feature adds a red strike through all of the deleted words.