In order for a contract to be valid. Four elements must be present in an agreement, namely, an offer, an acceptance, consideration, and no defenses (Blum, 2013). An offer refers to a communication made by a speaker that creates as reasonable expectation in the listener that the speaker is willing to enter into an agreement according to the specific terms (Blum, 2013). An acceptance is an expression of assent from the listener to the terms of the offer (Blum, 2013). Consideration refers to a promised action that the speaker and listener agree to do or not do that they ...
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