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A contract is an agreement between two or more parties to do something or not to do something. The agreement can be written or verbal. Basically, a valid contract is an agreement that the legal system will enforce.
An offer and acceptance; Certainty of terms; Consideration; An intention to create legal relations; Capacity of the parties; and, Legality of purpose. A contract cannot come into existence until an offer has been made by one party and accepted by another party.
A contract is an agreement between parties, creating mutual obligations that are enforceable by law. The basic elements required for the agreement to be a legally enforceable contract are: mutual assent, expressed by a valid offer and acceptance; adequate consideration; capacity; and legality.
490.1106 Articles of merger or share exchange.
Iowa allows professionals, such as accountants, attorneys and physicians to form a professional corporation (PC).
Elements of a Contract Offer - One of the parties made a promise to do or refrain from doing some specified action in the future. Consideration - Something of value was promised in exchange for the specified action or nonaction. ... Acceptance - The offer was accepted unambiguously.
For a verbal contract to be considered a legally binding contract, it generally requires two main elements and a single action: consideration, mutual assent and an acceptance that is indicative of the verbal mutual assent element.
490.1505 Activities not constituting doing business.