1
Q
What components make a valid contract? (4 points)
A
- Offer
- Acceptance
- Consideration (money from client & services from contractor)
+ - Intention to create legal relations
- Lawful - (cannot be prohibited by law)
- Capacity - (minor or insane)
2
Q
What is the purpose of a contract? (3 points)
A
- Sets out obligations and liabilities of parties named in the contract
- Apportions risks to relevant parties
- Sets out administrative procedures
