Question: 1. Explain consensus, its importance in contract law, and how such consensus is reached. 5 2. What must be contained in the offer for it

1. Explain consensus, its importance in contract law, and how such consensus is reached. 5 2. What must be contained in the offer for it to constitute an offer capable of being accepted as a contract?What must be contained in an offer for it to form a binding contract? UT 3. Distinguish among negotiation, mediation, and arbitration, and indicate the advantages and disadvantages of alternate dispute resolution over litigation. 5

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