€10.97 – €13.06
- Offer
Definition: A proposal by one party to enter into a legally binding agreement with another, outlining the terms and conditions of the contract. An offer must be clear, definite, and communicated to the offeree. - Acceptance
Definition: The expression of agreement by the offeree to the terms of the offer, resulting in the formation of a contract. Acceptance must mirror the offer and be communicated to the offeror. - Consideration
Definition: Something of value that is exchanged between parties to a contract. It is a necessary element for the validity of a contract and can be in the form of money, services, or goods. - Breach of Contract
Definition: The failure to perform a contractual obligation without lawful excuse. A breach can be material or immaterial, and it may result in legal remedies such as damages or specific performance. - Void Contract
Definition: A contract that is legally unenforceable due to the lack of one or more essential elements, such as an illegal purpose or incapacity of the parties. - Voidable Contract
Definition: A contract that is initially valid but can be rescinded or voided by one of the parties due to factors such as duress, misrepresentation, or lack of capacity. - Capacity
Definition: The legal ability of a party to enter into a contract. Minors, individuals suffering from mental incapacity, and intoxicated persons may lack the capacity to contract. - Covenant
Definition: A formal promise in a contract that obligates one or both parties to do (or refrain from doing) a specific action. Breach of a covenant may lead to damages or an injunction. - Performance
Definition: The fulfillment of contractual obligations by the parties. Proper performance discharges the contract, and failure to perform may result in a breach. - Contractual Term
Definition: A provision or condition in a contract that defines the rights and obligations of the parties. Terms can be express (written or verbal) or implied by law.
