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    The Four necessary variables for Contract Law

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    What are the four elements necessary to form a contract? What is the effect of legal capacity on any of the three elements? How might a deficiency in legal capacity, related to contract formation, be corrected?

    Please guide me in the right direction.

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    https://brainmass.com/law/history-and-philosophy-of-law/four-necessary-variables-contract-law-489724

    Solution Preview

    The four main elements that are necessary when forming a contract are competent parties, legal justification or purpose, and acceptance and offer, as well as consideration. If the contract is deficient in legal ...

    Solution Summary

    This solution discusses the necessary elements for Contract Law including the four main components responsible for establishing a valid contract. Competent parties, legal justification or purpose, and acceptance and offer, as well as consideration are briefly described with an explanation given for the consequences of a contract not possessing legal capacity on any of the four elements and how this can be potentially rectified.

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