Question: Considering its basic elements, a contract is a very simple concept. In general, it may be written or oral, unilateral or bilateral, executory or executed,
Considering its basic elements, a contract is a very simple concept. In general, it may be written or oral, unilateral or bilateral, executory or executed, etc. It cannot be illusory. Only four elements are necessary to the formation of a contract. What are the elements? If one of the elements is missing but the parties intended to form a contract, should a court hold the parties to their "agreement"? That is, should the courts take a strict constructionist approach to contract formation or should they try to enforce the intent of the parties. Why or why not
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