Topic > Contract Law: The Definition of Contract Law

Normally, the general principle of contract formation is that contracts are entered into by the parties involved in the contract with the terms of the contract clearly specified. Every contract entered into should contain an offer, an acceptance, a consideration and the intention to create legal relationships and certainty. OFFER; according to “contract law (Palgrave Macmillan 2011), an offer is said to be a statement by one party that he wishes to contract on clearly stated terms and those terms are accepted by the other party to whom the contract will be addressed. An offer can be made orally, in writing or with behavior as in the “Carlil and the Carbolic Smokeball” case. When we talk about an offer we need to talk about an 'invitation to treat' because, sometimes, a statement does not really intend to create an immediate acceptance or not necessarily a