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hello and welcome to this session in which we will discuss contract formation what is a contract most likely you signed the contract before uh either to rental property or you purchase something its an agreement that is that agreement is legally enforceable what does it mean legally enforceable when you enter into an agreement with another party whatever that agreement happens to be and you dont deliver guess what the other party can take you to court and enforce enforce your compliance so if not carried out you have a remedy the other person will have a remedy there are three elements to the contracts thats you have to have an offer and acceptance so someone is making an offer and the other party accepting the offer we call the person or the party making the offer is the offerer and the acceptance is the offeree think about employer and employee the employer offer employment offer you employment as an employee you would accept or you would reject but you have have to have that two-
