In the context of the case, when was the contract binding on D?
Understand the Problem
The question is asking for the specific moment when the contract became binding on party D in the context of a legal case. It presents multiple choices related to the dates of posting and receiving an offer and revocation. The goal is to identify the correct date based on contract law principles, particularly regarding the acceptance and revocation of an offer.
Answer
Binding when executed with consideration and intention.
The contract becomes binding on D when the contract is executed and adequate consideration is exchanged, involving intention and agreement by both parties.
Answer for screen readers
The contract becomes binding on D when the contract is executed and adequate consideration is exchanged, involving intention and agreement by both parties.
More Information
For a contract to be binding, it requires an offer, acceptance, consideration, and intention to create legal relations, all of which must be executed correctly. This ensures that the contract is enforceable in a court of law.
Tips
A common mistake is assuming a contract is binding upon verbal agreement alone; formal execution and delivery of terms with consideration is necessary.
Sources
- ELEMENTS OF A CONTRACT | Law 101: Fundamentals of the Law - courses.lumenlearning.com
- contract | Wex | US Law | LII / Legal Information Institute - law.cornell.edu
- “Execute and Deliver” - Adams on Contract Drafting - adamsdrafting.com
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