How an offer is convened to a contract

Introduction 

Contract law varies greatly from one jurisdiction to another, including differences in common law compared to civil law, the impact of received law, particularly from England in common law countries, and of law codified in regional legislation. A contract is an agreement having a lawful object entered into voluntarily by two or more parties, each of whom intends to create one or more legal obligations between them.The elements of a contract are “offer” and “acceptance” by “competent persons” having legal capacity who exchange “consideration” to create “mutuality of obligation

How an offer is convened to a contract

law

# Offer: Offer is the first step of a contract. To create an offer there must be a proposal and a person. For this, an offer has two elements

  1. proposal
  2. One person

# Promise: Promise is the second step of a contract. When an offer is accepted by the person to whom the offer is made it created a promise has following

  1. Proposal
  2. Two or more person
  3. Acceptation of the proposal

When an offer is not accepted by the person to whom the offer is made, it well not is a promise and May not made a contract.

# Agreement: An Agreement is the third step of a contract. An agreement when a promise is made with is an agreement. According to section 2(e) of the contract Act 1872, every promise and ever set of promise forming the consideration for each other is an agreement has following element

  1. Proposal
  2. Two or more person
  3. Acceptation of the proposal
  4.  consideration

# Contract: An agreement enforceable by law is a contract. Only such agreement are converted to a contract which is enforceable by law following are the element of a contract

  1.   Proposal
  2. Two or more person
  3. Acceptation of the proposal
  4. Consideration
  5. Enforceable by law