Business Contract Law Definition

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Contract Law Definition, Examples, Cases

1 hours ago Legaldictionary.net Show details

Contract law is a body of law that governs, enforces, and interprets agreements related to an exchange of goods, services, properties, or money. According to contract law, an agreement made between two or more people or business entities, in which there is a promise to do something in return for a gain or advantage, is legally binding.

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Posted in: Definition of contract in law

9 hours ago Definitions.uslegal.com Show details

Contract Price Law and Legal Definition Contract price is the amount to be paid under a contract of sale, a contract to render services, or a construction contract.

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Posted in: Definition of legality in contract law

3 hours ago Definitions.uslegal.com Show details

Contracts Business Contracts Law and Legal Definition Contracts are agreements that are legally enforceable. A contract may involve a duty to do or refrain from doing something, and the failure to perform such duty is called a breach of contract.

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Posted in: Form Law, Business Law

Chapter 8 – Principles of Contract Law

7 hours ago Ruby.fgcu.edu Show details

Contract law deals with the formation and keeping of promises. Although aspects of contract law vary from state to state, much of it is based on the common law. In 1932, the American Law Institute compiled the Restatement of the Law of Contracts. This work is a nonstatutory, authoritative exposition of the present law on the subject of

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Posted in: Form Law, Contract Law

1. Law of Contracts 1.1. Definition and Forms of …

Just Now Casrilanka.com Show details

The legal rules relating to contracts discussed below apply to simple contracts. Definition and requirements of a contract A contract is an agreement between two or more parties which will be enforced by law. As stated earlier, the general law governing the contracts in Sri Lanka is the Roman Dutch law which is the country’s common law.

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CHAPTER 7: OFFER AND ACCEPTANCE

3 hours ago Ccs.edu Show details

In some contracts, a term might be implied by law or common business practice. Example: contracts between merchants for the sale of goods, when the price is not specified, the current market price is the basis for the contract.

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Posted in: Business Law, Contract Law

Pricing law and guidance Business and economy

3 hours ago Hants.gov.uk Show details

Pricing law and guidance. This guidance is for England, Scotland and Wales. The price of goods, services or digital content is a key part of a contract (a legally binding agreement) between you and a trader. If there is a dispute over a price and a contract has not yet been formed the trader can decline your offer to buy the goods.

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Posted in: Form Law, Business Law

7 hours ago Lectlaw.com Show details

The Legal Term * * Defined & Explained. PRICE. The consideration in money given for the purchase of a thing. There are three requisites to the quality of a price iii order to make a sale.

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Posted in: Law Commons

The Basics of Business Contracts and Agreements

Just Now Thebalancesmb.com Show details

Legal Purpose . The contract must be for a legal purpose. It cannot be for something illegal, like selling drugs or prostitution. Remember that it is not illegal to enter into a contract that doesn't have all of these essential items; it just means that if an essential is missing the contract cannot be enforced by a court.  

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Posted in: Business Law, Contract Law

Lesson 1 General Contract Law (Louisiana)

Just Now Proeducate.com Show details

A contract is an agreement by two or more parties whereby obligations are created, modified, or extinguished. La. C.C. art. 1906 This definition begs the question, “What is an obligation?” An obligation is a legal relationship whereby a person, called the obligor, is bound to render a performance in favor of another, called the obligee.

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1 hours ago Legal-dictionary.thefreedictionary.com Show details

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1. An extraordinary equitable remedy that compels a party to execute a contract according to the precise terms agreed upon or to execute it substantially so that, under the circumstances, justice will be done between the parties. Specific performance grants the plaintiff what he actually bargained for in the contract rather than damages (pecuniary compensation for loss or injury incurred through the unlawful conduct of another) for not receiving it; thus specific performance is an equitable rather than legal remedy. By compelling the parties to perform exactly what they had agreed to perform, more complete and perfect justice is achieved than by awarding damages for a breach of contract. The remedy of specific performance presupposes the existence of a valid contract between the parties to the controversy. The terms of the contract must be definite and certain. This is significant because equity cannot be expected to enforce either an invalid contract or one that is so vague in its terms that equity cannot determine exactly what it must order each party to perform. It would be unjust for a court to compel the performance of a contract according to ambiguous terms interpreted by the court, since the court might erroneously order what the parties never intended or contemplated.

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Posted in: Contract Law

What Is Business Law? Definition & Overview Video

8 hours ago Study.com Show details

Business law encompasses all legal aspects of running a business, including employment law and contract law. Explore a definition and overview of business law, including the rules of starting

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Posted in: Business Law, Contract Law

Contract of Sale in Business Law: Everything Need to Know

8 hours ago Upcounsel.com Show details

21.086.417

1. Based on the location where the agreement is created, the sales agreement will include different requirements and features related to the sale of goods. The details will vary depending on whether there are one or more merchants involved. The agreements can also be designed to handle increases and decrease that may affect product demand and costs. Larger sales and supply departments for publicly traded companies will use sales agreements as a way to list the obligations expected to be met by the buyer and seller. It may state the number of goods to be delivered in a specific timeframe, or it may stipulate that one of the parties may agree to not do business with any competitors of the other party. A well-drafted sales agreement will include all necessary information such as: 1. Full names of all parties. 2. Contact information for all parties. 3. Sales quantities and prices. 4. Description of the goods involved in the agreement. 5. Payment terms. 6. Shipping terms. 7. Return policies...

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Posted in: Business Law, Contract Law

Example Contract Law Cases What is Contract Law?

2 hours ago Ukessays.com Show details

What is Contract Law? The law of contract is a set of rules governing the relationship, content and validity of an agreement between two or more persons (individuals, companies or other institution) regarding the sale of goods, provision of services or exchange of …

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Posted in: Contract Law, Services Law

What is a Contract? Business Law Lumen Learning

9 hours ago Courses.lumenlearning.com Show details

A contract is a promise or a set of promises for the breach of which the law gives a remedy, or the performance of which the law in some way recognizes as a duty. Similarly, the Uniform Commercial Code says: Contract means the total legal obligation which results from the parties’ agreement as affected by this Act and any other applicable

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9 hours ago Legal-dictionary.thefreedictionary.com Show details

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1. Section one of the Sherman Act provides that "[e]very contract, combination in the form of trust or otherwise, or conspiracy, in restraint of trade or commerce among the several states, or with foreign nations is hereby declared to be illegal." The broad language of this section has been slowly defined and narrowed through judicial decisions. The courts have interpreted the act to forbid only unreasonable restraints of trade. The Supreme Court promulgated this flexible rule, called the Rule of Reason, in Standard Oil Co. of New Jersey v. United States, 221 U.S. 1, 31 S. Ct. 502, 55 L. Ed. 619 (1911). Under the Rule of Reason, the courts will look to a number of factors in deciding whether the particular restraint of trade unreasonably restricts competition. Specifically, the court considers the makeup of the relevant industry, the defendants' positions within that industry, the ability of the defendants' competitors to respond to the challenged practice, and the defendants' purpose...

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Posted in: Law Commons

7 hours ago Quimbee.com Show details

Definition A contract for sale in which nothing is said as to price, the price is to be agreed later by the parties, the price is to be fixed by a market standard or by a third party, or the price is to be fixed in good faith by the seller or buyer.

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Posted in: Contract Law

What is Contract Law? Become a Contract Lawyer

9 hours ago Legalcareerpath.com Show details

Contract law is the body of law that relates to making and enforcing agreements. A contract is an agreement that a party can turn to a court to enforce. Contract law is the area of law that governs making contracts, carrying them out and fashioning a fair remedy when there’s a breach. Anyone who conducts business uses contract law.

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Posted in: Business Law, Contract Law

Business Contract Template LegalTemplates

Just Now Legaltemplates.net Show details

A business contract is an agreement in which each party agrees to an exchange, typically involving money, goods, or services. Business contracts protect both buyers and sellers, by reducing agreements to writing. The contract can be as long or short as necessary in order to cover the important details of the contract.

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Common Law Of Contracts: Everything You Need to Know

9 hours ago Upcounsel.com Show details

The common law of contracts is important to understand when running a legal business in the United States.. Overview of UCC Contracts and Common Law Contracts. In general, contract law principles are applied and understood in the United States. The Uniform Commercial Code (UCC) and the common law governs them. Common law is in charge of transactions with …

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Posted in: Form Law, Business Law

1 hours ago Notesread.com Show details

Types of Contracts are described in this article. A contract is an agreement, express or implied, to do or not to do a particular thing.A contract is a promise or a set of promises for the breach of which the law gives a remedy. or the performance of which the law in some recognizes as a duty."

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Business Law Test 1: Contracts Flashcards Quizlet

1 hours ago Quizlet.com Show details

-Subject matter of the contract must be legal -Run into this with: Licensed Professionals: If you are in a licensed profession, and you don't have a license, any contract you enter into is void; Cannot bring a breach of contract case against some if they don't pay you, if your unlicensed; Make sure they are Bonded/ Ensured, have insurance.

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Posted in: Insurance Law, Business Law

Contract Law Terms: Definitions & Contract Types Video

3 hours ago Study.com Show details

Contract law terms include six elements in order to make contracts legal. Explore the six elements and the definitions and types of contracts including express, implied in-fact, implied in-law

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Posted in: Contract Law

Manufacturerimposed Requirements Federal Trade Commission

6 hours ago Ftc.gov Show details

Reasonable price, territory, and customer restrictions on dealers are legal. Manufacturer-imposed requirements can benefit consumers by increasing competition among different brands (interbrand competition) even while reducing competition among dealers in the same brand (intrabrand competition).For instance, an agreement between a manufacturer and dealer to set …

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Posted in: Consumer Law

BASIC PRINCIPLES OF ENGLISH CONTRACT LAW

8 hours ago A4id.org Show details

legally valid as a written contract. There are statutory exceptions to this rule. For example: (i) a lease for more than 3 years must be made by deed: Law of Property Act 1925, ss 52, 54(2); (ii) most contracts for the sale or disposition of an interest in …

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Posted in: Contract Law, Property Law

Contract Law in Australia 2019 Terms of a Contract The

8 hours ago Ruleoflaw.org.au Show details

Contract Law A contract is a binding agreement between parties. For a contract or legal agreement to be formed it must have several legal elements. These are: 1. An offer made by one party; An Offer - is a communication (verbal or in writing) amounting to a promise to do something (or not do something) if the person to whom the offer is directed accepts the offer

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Posted in: Form Law, Contract Law

Federal Government Contract Overview FindLaw

3 hours ago Corporate.findlaw.com Show details

As implemented by the FAR, TINA exempts from its coverage a contract of any dollar amount where. the price agreed upon is based on adequate price competition, the price is set by law or regulation; the agency is acquiring a "commercial item" as defined in FAR 2.101, or; the agency grants a waiver. FAR 15.403-1(b).

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Posted in: Contract Law, Commercial Law

Contract Law revision notes, book, eBook for LLB/Law

6 hours ago Studynama.com Show details

LAW (LLB) Oct 4, 2015. #1. Hi Fellow Law students, I am sharing PDF notes, book and eBook for the subject - Contract Law for LLB and BA.LLB course students. The attached PDF eBook of Contract Law contains lecture quick revision notes that will help you understand the concepts & theories to score more marks in examinations.

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Posted in: Pdf Law, Contract Law

Contracts Law FindLaw

8 hours ago Corporate.findlaw.com Show details

Contracts are, in a sense, private law created by the agreement of the parties. The rights and obligations of the parties are determined by the contract's terms, subject to limits imposed by relevant statutes. Example: Developer promised to pay Composer $5000 to create music for Developer's multimedia training work.

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Posted in: Contract Law, Media Law

Legally Binding Contracts & Terms: Basics of Contract Law

4 hours ago Hallellis.co.uk Show details

One of the first principles of contract law is autonomy. Businesses are free to contract on terms and on any terms they choose. They may allocate risks within their contracts as they wish. It is up to the parties to decide what risks they will accept and on what terms. Courts will respect their decisions and enforce the deals that they sign up to.

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Posted in: Business Law, Contract Law

Business Law Law of Sale of Goods Tutorialspoint

7 hours ago Tutorialspoint.com Show details

The Law of Sale of Goods provides such guidelines and liabilities for the safety and security of the consumers. Any firm or person entering into the business of selling goods to consumers should be aware of the fact that the law will impose certain terms and conditions on each transaction. Consumers can be defined as the group of people who buy

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Posted in: Business Law, Consumer Law

Important Provisions in Requirements Contracts Practical Law

9 hours ago Content.next.westlaw.com Show details

Buyers and sellers enter into requirements contracts for the sale of goods to secure various advantages, including exclusivity in the buying and selling relationship. This article highlights several provisions buyers and sellers should consider prior to entering into a requirements contract, including meet-or-release (MOR), most-favored customer (MFC), …

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Posted in: Contract Law

Definition of PRICE • Law Dictionary • TheLaw.com

6 hours ago Dictionary.thelaw.com Show details

TheLaw.com Law Dictionary & Black's Law Dictionary 2nd Ed. contracts. The consideration in money given for the purchase of a thing. 2. There are three requisites to the quality of a price iii order to make a sale. 3. 1. It must be serious, and such as may be demanded: if, therefore, a person were to sell me an article, and by the agreement

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Posted in: Contract Law

Law of Contract: Definition, essentials and Types of Contract

1 hours ago Theintactone.com Show details

A contract is an agreement made between two or more parties which the law will enforce. Sec 2(h) defines contract “as an agreement enforceable by law”. Contract=Agreement + Enforceability at law. Agreement Agreement is defined as “every promise and every set of promises, forming consideration for each other”. Promise= a proposal when accepted …

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Posted in: Form Law, Contract Law

Contract Law in Irelandthe Essentials Terry Gorry & Co

6 hours ago Businessandlegal.ie Show details

The above is a 10,000 foot view of contract law in Ireland. There is statute law dealing with contract, too, such as the Sale of Goods and Supply of Services act, 1980 and the Consumer Protection Act, 2007 which deals with consumer contracts in Ireland while the Land and Conveyancing Law Reform Act 2009 deals with contracts for the sale of land.

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Basics of Contract Law: Types & Definitions SchoolWorkHelper

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1. Contract under seal:A contract with the requirement of a seal that recognizes the acceptance of the agreement and the consequences if there is a breach in the contract. Express Contract: A contracts which is written or orally spoken in which both parties have accepted. Implied Contract: A contract based on the intention of an agreement on which is based on certain circumstances. Executed Contract: A contract signifying that both parties have fulfilled their agreement in the previous contract and that contract is ineffective anymore. Bilateral Contract: A contract made with mutual agreements to fulfill an action in return for a corresponding action Unconscionable Contract: An unfair and unreasonable contract which is in favour of one side of the party. Aleatory Contact: A contract which is in effect due to certain circumstances (A contract with a car insurance company- Car crash)

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Price's Law: What It Is And Why You Should Care Darius

6 hours ago Dariusforoux.com Show details

It’s called Price’s square root law, and it originates from academia. That means Price’s law is pretty accurate. In my example, that means 5 people (square root of 25) should bring in 50% of the sales. On my floor, 4 people brought in about 50%-60% of the sales. Only a handful of people are responsible for the majority of the value creation.

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Posted in: Law Commons

Free Purchase of Business Agreement Create, Download

5 hours ago Lawdepot.com Show details

A Business Purchase Agreement is a contract used to transfer the ownership of a business from a seller to a buyer. It includes the terms of the sale, what is or is not included in the sale price, and optional clauses and warranties to protect both the seller and the purchaser after the transaction has been completed.

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Posted in: Business Law, Contract Law

5 hours ago Seqlegal.com Show details

In this article James Normington of New Park Court Chambers explains some of the key points of English contract law. Every businessman and women should be familiar with these concepts. Contracts occur in every business. It might be as simple as the agreement with the milkman to deliver the milk and your obligation to pay for it, or it might be an order you …

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Posted in: Business Law, Contract Law

What is a Contract? LegalMatch Law Library

Just Now Legalmatch.com Show details

What is a Contract? An agreement between two private parties that creates mutual legal obligations. A contract can be either oral or written. However, oral contracts are more challenging to enforce and should be avoided, if possible. Some contracts must be written in order to be valid, such as contracts that involve a significant amount of money (over $500).

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Posted in: Contract Law

Contracts and agreements Small Business

3 hours ago Smallbusiness.wa.gov.au Show details

21.086.417

1. Dealing with contracts is part of running a small business. You will have a number of business relationships involving some type of contractual commitment or obligation. You may: 1. be a purchaser of goods and services - as a borrower of money, in rental agreements and franchise agreements 2. be a supplier of goods and services – retailer, wholesaler, independent contractor 3. have a partnering agreement with other businesses – partnerships, joint ventures, consortium. Managing your contracts and business relationships is very important. TIP: You should be aware that the majority of contracts entered into will have goods and services tax (GST) implications.

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Posted in: Business Law, Contract Law

Identifying a Valid Offer and Valid Acceptance Law Teacher

4 hours ago Lawteacher.net Show details

Jurisdiction / Tag (s): UK Law. An offer is an expression of willingness to contract on specific terms, made with the intention that it is to become binding as soon as it is accepted by the person to whom it is addressed. A binding contract is concluded once an offer has been accepted unconditionally. In general, we have to identify a valid

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Posted in: Contract Law

1 hours ago Thebalancesmb.com Show details

21.086.417

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Posted in: Contract Law

Contract Law Case Study Sample Example – 100% Original

5 hours ago Myassignmenthelp.com Show details

Contract Law Sample - Business and Contract Law. In order to answer this question, a discussion on the rule of Indoor management is needed. When an employee or authority from a company on behalf of the company, enters into a contract with any outsider, it is considered that the company as a whole is entering into the said contract.

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Posted in: Business Law, Contract Law

How Much Does a Business Lawyer Cost? LegalMatch

8 hours ago Legalmatch.com Show details

Small business attorney fees differ from legal services provided by larger law firms. Larger law firms tend to charge more per hour for their services than smaller firms. Some attorneys may charge different rates depending on the task; meaning, they may charge a higher hourly rate for court work, and a lower rate for research.

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Posted in: Business Law, Services Law

What Is Law, Consideration and the Principle of a Contract

7 hours ago Lawteacher.net Show details

Principal of formation contract discusses the factors that are vital to the formation of a valid contract in legal terminology, offer, acceptance, consideration, and the intention to create a legal relationship. The law of contract is of enormous complexity. Contract pervades the professional life of the artist.

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Posted in: Form Law, Contract Law

Contract Wikipedia

8 hours ago En.wikipedia.org Show details

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Posted in: Contract Law

Free Law Books Download Ebooks Online TextBooks

9 hours ago Freebookcentre.net Show details

Administrative Law I Cases And Materials. This note covers the following topics: The Public Administration, Administrative law Key features, Administrative authority and the entailment to the legal principle, Special nature and typology of administrative action, Sources of administr: ative law, Regulations as specific source of administrative law, Administrative structures, State

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Posted in: Law Commons

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Frequently Asked Questions

What is the legal definition of a contract?

Contracts Business Contracts Law and Legal Definition. Contracts are agreements that are legally enforceable. A contract may involve a duty to do or refrain from doing something, and the failure to perform such duty is called a breach of contract. The law provides remedies if a promise is breached- aiming to restore the person wronged to...

What is a contract of sale in business law?

Contract of sale in business law is an agreement to show the terms and conditions of a transaction, sometimes called a sales and purchase agreement or just a sales agreement. The agreement is more detailed than a bill of sale or a basic sales receipt. It can include conditions that are imposed on the parties involved.

What are contracts and agreements for a small business?

Dealing with contracts is part of running a small business. You will have a number of business relationships involving some type of contractual commitment or obligation. be a purchaser of goods and services - as a borrower of money, in rental agreements and franchise agreements

What are the basic principles of contract law?

I FORMATION OF A CONTRACT 1. A contract is an agreement giving rise to obligations which are enforced or recognised by law. 2. In common law, there are 3 basic essentials to the creation of a contract: (i) agreement; (ii) contractual intention; and (iii) consideration. 3. The first requisite of a contract is that the parties should have reached

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