Offer — definition?
A clear proposal indicating willingness to contract.
Offer — definition?
A definitive proposal to enter into a contract.
Acceptance — role?
Unqualified agreement to terms, forming a contract.
Acceptance — requirement?
Unqualified agreement mirroring the offer.
Consideration — function?
Exchange of value necessary for enforceability.
Consideration — role?
Exchange of value between parties.
Capacity — necessity?
Parties must be of legal age and competent.
Legality — condition?
Subject matter must be lawful.
Contract elements — all must be?
Offer, acceptance, consideration, capacity, legality.
Offer — communication requirement?
Must be communicated and definite.
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1. What does the term 'contract elements' refer to in contract law?
2. What are the five essential elements required for a valid and enforceable contract according to the course outline?
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