Secret Principles you don't know about Contract (Pt. 1)

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SECRET PRINCIPLES YOU DON'T KNOW ABOUT CONTRACT (PT. 1)

It is without doubt that every human being contracts at one point in time or the other, hence, it is not out of place to conclude that contract is the bedrock of 'all' life transactions. There are abundant examples👇👇👇
In the workplace, there is a contract of employment.
In land transaction, there is contract of sale, let's not forget that the Deed of Assignment, Power of Attorney etc., are also forms of contract.
In the corporate sector, there are series of contract with different nomenclatures.
Marriage is not left out, after all there is Prenuptial Agreement, Promise to marry etc.
In Healthcare, contract plays a key role in the subsisting relationship between a care giver and a patient, little wonder a patient is required to sign a consent form in the course of certain medical treatment.🤔🤔🤔
Tenancy relationship is also a form of contract.
Now, what is contract??
A contract is an AGREEMENT between 2 or more persons which creates rights and duties that are enforceable and/or recognized by law.📕📕📕
Please note, that for a contract to be valid in law, certain elements must be present. These elements are:👇👇👇
1. Offer
2. Acceptance
3. Consideration
4. Intention to create Legal Relations
5. Capacity
To be continued next week.🙏🙏🙏
Remember that for the sake of confidentiality, questions are to be sent in form of messages or you may request for the WhatsApp number. 📚🎲📚It is without doubt that every human being contracts at one point in time or the other, hence, it is not out of place to conclude that contract is the bedrock of 'all' life transactions. There are abundant examples👇👇👇
In the workplace, there is a contract of employment.
In land transaction, there is contract of sale, let's not forget that the Deed of Assignment, Power of Attorney etc., are also forms of contract.
In the corporate sector, there are series of contract with different nomenclatures.
Marriage is not left out, after all there is Prenuptial Agreement, Promise to marry etc.
In Healthcare, contract plays a key role in the subsisting relationship between a care giver and a patient, little wonder a patient is required to sign a consent form in the course of certain medical treatment.🤔🤔🤔
Tenancy relationship is also a form of contract.
Now, what is contract??
A contract is an AGREEMENT between 2 or more persons which creates rights and duties that are enforceable and/or recognized by law.📕📕📕
Please note, that for a contract to be valid in law, certain elements must be present. These elements are:👇👇👇
1. Offer
2. Acceptance
3. Consideration
4. Intention to create Legal Relations
5. Capacity
To be continued next week.🙏🙏🙏


For Consultations and/or enquiries, please reach out to the Online Law Clinic Team on 09021229241 or onlinelawclinicteam@gmail.com.
. 📚🎲📚

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