A Framework For Discussing Contracts

An offer is an act or statement that proposes definite terms & permits the other party to create a contract by accepting those terms
2 terms determine if a statement is an offer
1. Did the offer intend to make a bargain
2. Are the terms of the offer definite

(A promise or refrain from doing something that an individual is not otherwise legally obligated to do)

4 (5) Elements of a contract

As the the title explains, there are 4 (5) elements of a valid contract. They are as follows:

1. Offer
2. Acceptance
3. Consideration
4. Capacity
5. (Legality)