Criminal Law/Contract Law

Criminal law /Contract law

Name

Institution Basic elements of a contract

There are three basic elements of a contract offer , acceptance and consideration . However , other elements which may be included in this list are consent , competence and legality of a contract (Thorpe , Bailey 1999

The stages of negotiation and areas of concern

A general contract negotiation has six stages and areas of concern . The first step involves evaluation of the eligibility of a contracting party not be below the age of 18 , otherwise , no negotiation may take place . The

second stage involves familiarizing oneself with the contract basics this implies that one must understand offer , acceptance consideration and the intention of a contract to establish a legal relationship and apply the knowledge to negotiate the agreement . Third stage involves research into all the laws that apply to the contract so that the contract entered into will be legally enforceable (Thorpe Bailey , 1999 . Fourth , the contracting party sets priorities and decides what to concede so that the contract represents his best wishes . The fifth stage takes place at the negotiation table , whereby both parties present their positions and each applies the skills of negotiation so that the final consensus arrived at is freely willed by both parties and represents each party 's ultimate wishes . This is done to ensure that there is no duress or undue influence when negotiating the terms of the contract . Finally , the process of negotiation is completed through written agreement signed both parties (Thorpe , Bailey , 1999

The...