... even less comprehensible to those who have not studied or used it on a frequent basis. I am to cover each of the areas individually by explaining they're meaning, and then giving a basic overview of each. Discuss On What Basis A Contract Is Deemed To Be Valid The Oxford Dictionary of law describes at Contract as " A legally binding agreement. Agreement arises as a result of offer and acceptance, but a number of other requirements must be satisfied for an agreement to be legally binding." Before we discuss what makes a contract valid let us first explore what a contract is and what it must contain. A business will enter into contracts with all or any of the following, Lenders, Employees, Sellers of land or buildings, Suppliers of equipment, Suppliers of stock and / or Customers. A contract can be as simple as you walking into a shop and requesting to ...

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