Question

Discuss the four components of a valid contract and apply them to a contract with a vendor to purchase a new CT scanner. What would you include in the contract? How would you be sure it would be valid?

Answer 1

Answer:

The four valid components for a contract are the following:

1.The contractual offer

2. Acceptance.

3.The consideration.

4.Legal capacity.

Explanation:

1.Contractual offer is an affirmation of the unilateral will, which is addressed to a recipient who is given the possibility to sign a contract, in this case, the seller of the CT scanner equipment must provide an offer to the person who going to buy the equipment.

2. Acceptance is a declaration of the will of the recipient, which is addressed to the person who made the offer, through which there is agreement to the terms of the contractual offer. Once the offer is made, the buyer of the CT scanner should accept it to sign the contract.

3.The consideration is the cost of the CT scanner equipment and it is paid to the seller.

4.Legal capacity has to do with the ability of a person to be the holder of rights and obligations; to exercise or require the former and constrain the latter.