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  • Essay / Contract Law: The Definition of Contract Law

    Normally, the general principle of contract formation is that contracts are formed by the parties involved in the contract with the terms of the contract clearly specified. Every contract formed must include offer, acceptance, consideration and the intention to create legal relations and certainty. OFFER; according to “contract law” (Palgrave Macmillan 2011), an offer is considered a declaration by one party of its willingness to contract on clearly stated terms and these terms are accepted by the other party to whom the contract will be made. An offer can be made orally, in writing or by behavior as in the case of “Carlil and the Carbolic Smoke Ball”. When talking about an offer, we have to talk about an "invitation to treat" because sometimes a statement is not really intended to create immediate acceptance or not necessarily a