A legal document, usually in writing, giving details of a formal legally binding agreement, between two or more different people or groups. To be legally binding it must contain certain elements:
it must contain an offer made by one party and accepted in its entirety by the other,
it must include some form of consideration whether it be money, goods or services, and
it must be properly signed by all parties to it, and dated.
A decision of a court regarding the rights and liabilities of the parties to legal proceedings. Judgments generally provide the court’s explanation as to why it has chosen to make a particular decision.
A demonstration of the willingness of a party to enter into a bargain, made in such a way that another individual is justified in understanding that his or her assent to the bargain is invited and that such assent will conclude the bargain.
The general rule is that it must be reasonable in the circumstances for the recipient to believe that the communication is an offer. The more definite the communication, the more likely it will constitute an offer.
Oct 26, 2010
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