Saturday, November 7, 2009

On What constitutes a contract

A contract is an agreement between two or more parties which creates reciprocal legal obligation or obligations to do or not to do a particular thing.For a valid contract to be formed,there must be mutuality of purpose and intention.The two or more minds must meet at the same point,event or incident.They must not meet at different points,events or incidents.They must be saying the same thing at the same time.

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