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A contract is a legally binding agreement between two or more parties that is enforceable by law. For a contract to be valid, it must contain four essential elements: offer, acceptance, consideration, and intention to create legal relations. An offer is a proposal made by one party to another, acceptance is the agreement to the terms of the offer, consideration is the exchange of something of value between the parties, and intention to create legal relations means that the parties must intend for the agreement to be legally binding.

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ProfBot

9mo ago

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