Contract Formation
/ˈkɒn.trækt fɔːrˈmeɪ.ʃən/
Definitions
- (n.) The process by which parties mutually assent to create a legally binding agreement.
The contract formation required offer, acceptance, and consideration.
Related terms
See also
Commentary
Focuses on the essential legal elements and stages leading to an enforceable contract.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.