Reciprocal promises
Reciprocal promises
Promises which form the consideration or part of consideration for each other, is an agreement.
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Conditions for contract
Conditions for contract Agreement Consideration Enforceable by law
How is a contract made?
How is a contract made? Proposer makes an unconditional offer to the other party. The other party accepts the proposal and the proposal becomes a promise and the parties are now legally promisor and promise The promise should have consideration; if the promise does not have consideration then it is …
What is a promise?
What is a promise? You can say in simple words that promise is an accepted proposal. When does the proposal become a promise? Proposal becomes a promise when the proposal is accepted by the promise. If the proposal is accepted a contract is made, but if the proposal is not …