In: Operations Management
Describe two elements of contract law that require special consideration when looking at an online contract.
A Thumbs Up! Would be really helpful for me. If you have any questions, please leave a comment and I will get back to you as soon as possible.
contract law, an inducement given to enter into a contract that is adequate to induce the promise enforceable in the courts. The technical requirement is either a liability incurred by the person making the promise or a benefit received by the other person.
Contract law, an incentive to enter into a contract sufficient to trigger an enforceable commitment in court. Technical claims are the benefits claimed by the person making the appointment or received by the other.
Consideration is the profit that each party derives or expects from a contractual agreement. Remember to provide a valid basis for the contract and consider all valid contracts. Each party must change the "location". Considerations are usually the results of:
1. Promise to do something that is not required by law.
2. Commitment not to do what you deserve (often to mean not to sue).
Elements:-
First, there must be a deal in exchange terms. Second, the mutual exchange must take place. In other words, both parties must get something from the contract.
Legal rules for consideration:-
Promises should be considered, but not required to be delivered to the promoters. Consideration should be enough, but not enough. Consideration cannot be an illusion. Consideration should not be over.