Critical Analysis Paper. The Contract Chosen Is a Rental Agreement

Contract Agreement
Name
Institutional Affiliation
A contract is a legal enforcement agreement among two or multiple parties. The agreement can be oral or written. The agreement develops rights and obligations under the general law and conceptual acts that apply to the country. The requirement established through the agreement need a party to do something or cease from achieving something. In occasions where the conceptual obligations are not satisfied, statutory and legal remedies are accessible to the party aggrieved or the party suffering harm. Contracts are essential in the business industry throughout the world.
Nevertheless, the legitimacy of a contract has been the primary concern in the issues of dispute. The legality of a contract depends on different vital characteristics that have to be satisfied by the contracting individuals or parties to make the contract enforceable. This paper aims to examine the vital elements of the legal contract and the outcomes of a breach of contractual terms. The paper will also explain various remedies available to the parties in the agreement.
The Contract Chosen Is a Rental Agreement
Last year I rented a house which was near my college. I entered into various agreements with the landlord. The terms of the agreement comprise of the Tenant's agreement to the landlord and the landlord's obligations to the Tenant. These kinds of requirements can be written in the form of a contract or suggested by property law. A breach of the tenancy agreement can lead to the landlord getting a Possession Order from the court that permits them to expel the Tenant. However, in the contract, there were various contractual details of the agreement.
Elements of Essential Elements of an Enforceable Contract
Offer
Offer can be regarded as a promise or a suggestion that is made to a party to achieve or desist from performing something in exchange for anything worth. It is referred to as a promise to be guaranteed according to terms of the contract that is projected (Peel, & Treitel, 2007). Particular offers forestall not another promise being repaid in exchange but the presentation of an act or patience from taking act. For instance, a tenant's offer during rent payment is possibly conditioned on the landlord's promise to reduce the rent upon early payment. The contractual obligations exist once the terms have been accepted by the party, which made the offer.
Acceptance
Acceptance happens when the party accepts the terms of the offer, and such recognition shall be apparent. The acceptance is usually communicated to another party through the act or a statement. Acceptance should be established in a manner stated by the offer. It should be communicated to the offeror to be effectiv...