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A charter is an agreement between two or more parties , which is enforceable by law . For a quail to exist , the following elements must be presentOffer and Acceptance : this is when a political party called the offeror offers a service or anything of real value to another party called the offeree who signifies his agreement to such ruin in writing , orally or through his actions . such an offer must be directed to a point person or group of people who are identifiable and not to the generality of the populace . This must be coarse assent or consensus ad idem (meeting of moinds (Legal Information Institute , n .dConsideration : is that something of tangible (legal ) value , which a party gives in swop for a contractual promise .

Consideration or a valid substitute is necessary to create a subsisting contractCapacity : is the legally required ability of a party to enter into a cover version agreement such as wisdom of estimate and attainment of majorityLegality : means that the parties meant the agreement to be legitimately binding . As such , the object must be legally contractible e .g , a contract to steal is not bindingThe documentary theory of contract is a principle in U .S . law that the existence of a contract is primed(p) by the legal significance of the external acts of a party to a purported agreement , rather than by the actual aim of the parties (West s cyclopaedia of American Law 2005 . This means that the law makes an objective interpretation...If ! you indispensability to get a full essay, order it on our website: BestEssayCheap.com

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