Question 1 List and explain briefly each of the components required to demonstrate that a binding contract exists. Question 2

| October 23, 2018

Question 1
List and explain briefly each of the components required to demonstrate that a binding contract exists.
Question 2
Does a contract have to be in writing to be binding? In your answer explain whether this is the case, and further whether it is a good idea to put an agreement in writing.
Question 3
What is a formal contract? Explain the ‘formalities’ of such a contract and give two examples.

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