How Does a Contract Work?
There are three parts of a contract: offer, acceptance and consideration. An offer is what someone is willing to do or to give. Such offers include services like writing or medical treatments. Other types of offers include purchases of real estate or eBay items. The acceptance is agreeing to the offer. The offer and acceptance is often referred to as "the meeting of the minds." Consideration is the most important part. The law requires that something of value be given in exchange for receiving the offer. The consideration is often money, but other things can be exchanged as well.
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Release Time: 2020-02-19 09:41:22