Five essential elements of an enforceable contract

 

Describe an example of a contract that you or someone you know entered into (e.g., rental agreement, cell phone agreement, property purchase or lease [e.g., car, home, furniture, etc.], home or car repair, or student loan agreement). In your description, be sure to provide specific contractual details including parties and subject matter involved. You must also address the following:

Define the five essential elements of an enforceable contract, and demonstrate how each element relates to your example.

 

Sample Solution

An agreement between private persons that creates legally enforceable mutual obligations. Mutual assent, expressed by a legitimate offer and acceptance; adequate consideration; capacity; and legality are the key characteristics required for the agreement to be a legally enforceable contract. A valid alternative can satisfy an element of consideration in several states. General damages, consequential damages, reliance damages, and particular performance are all possible remedies for violation of contract. Contracts are legally binding promises. Contract law is primarily governed by state common law, and while general contract law is consistent across the country, specific court interpretations of a particular aspect of the contract may differ.

association, because of the huge number of requirements on a circumstance (Flinsch-Rodriguez, 2019). Fiedler, in his Contingency Theory of Leadership (Fiedler, 1967), recommends that the viability of a gathering is subject to the administration styles of the pioneer and their favourability to the circumstance. A large part of the hypothesis is laid out around the most un-favored colleague scale (LPC). The LPC expects to measure a potential chiefs way to deal with an errand on a size of relationship roused to task spurred, where the pioneer fits on the scale permits what is happening to be reasoned, and in this manner permits the distinguishing proof of appropriate pioneers for undertakings. The favourableness of the circumstance relies upon three qualities: pioneer part relations, the help and trust the pioneer as from the gathering; task structure, the lucidity of the errand to the pioneer; and positional power, the power the pioneer needs to survey a gatherings execution and give prizes and disciplines (Fiedler, 1967). In the event that the pioneers approach matches what is expected from going on, achievement is anticipated for the gathering. Fiedler’s possibility model offers an exceptionally grave categorisation of administration, obviously characterizing which circumstances endlessly won’t bring about progress for a likely pioneer. At the senior administration level of a hierarchal construction inside an association the hypothesis can be applied openly, right off the bat because of the simplicity at which people can be supplanted on the off chance that their LPC score doesn’t match that expected of the circumstance (Pettinger, 2007). Furthermore, and in particular, is to guarantee that the senior administration are ideally suited to effectively lead the association. Notwithstanding, further down the order Fielder’s possibility hypothesis starts to hold substantially less significance, it becomes unfeasible according to a hierarchical viewpoint because of the quantity of individuals at this degree of initiative. The strategies of coordinating the pioneer with their most un-favored collaborator is difficult to reliably accomplish, so a more continuum based approach is required.

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