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Agreements 101

The 6 Essential Elements of a Contract

A contract is considered legally-enforceable when it incorporates six essential elements: Offer, Acceptance, Awareness, Consideration, Capacity and Legality. By understanding the six essential elements of a contract, all parties can be confident that the contract they are signing is fair and legal.

What is a Memorandum of Understanding?

A memorandum of understanding (MOU) is valuable for establishing mutual agreements between parties. It clearly outlines how parties will work together and define responsibilities and expectations.

Author Ted Sclavos
Ted Sclavos
Illustration of an isometric pyramid and a cylinder,