The Six Elements Of A Contract, According To Bilateral Contract

This contract is a bilateral contract, according to Bilateral Contract (n.d.); “a bilateral contract contains a promise by each party to fulfill certain obligations to complete the deal” (Bilateral Contract, n.d.). This contract will talk about the six elements of contract formation, factors/restrictions of this contract, and the ethical issues of this contract.
Six Elements of Contract Formation According to Elements of a Contract (n.d.), there are six elements of contract formation. They are: capacity, mutual assent, consideration, lawful purpose, certainty of terms, and mutuality of obligation (Elements of a Contract, n.d.). This contract will give a definition of each one of these.
Capacity
According to Elements of a Contract (n.d.), in order to be able to sign this contract you must have capacity about what you are signing. In order to have capacity, you must be competent and over the age of 18. If you are underage or incompetent, this contract will become void. If a contract is void, it is not enforceable because in the eyes of law, it never existed. Incapacity can arise from being under the age of 18, insanity, and drunkenness (Elements of a Contract, n.d.).
Mutual Assent …show more content…
Our offer to you is that you stay in school while working for us, we will work around your school schedule to make sure that you have time to work and go to class. This offer doesn’t expire, so if you are not currently in school but are looking to go back to school any time that you work for us, this offer will still stand. Accepting can happen orally or by signing the contract. Meeting of the minds is saying that this contract must be accepted by two or more persons and it has already been accepted by the person who wrote this contract (Elements of a Contract,