Contract Approval Form - South Carolina State University 2025

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The process usually starts with the creation of a draft contract that outlines the agreements terms and conditions. The relevant stakeholders review the draft contract, provide feedback, and suggest changes. Authorized representatives of both parties sign the contract after obtaining approval from all stakeholders.
The basic elements required for the agreement to be a legally enforceable contract are: mutual assent , expressed by a valid offer and acceptance ; adequate consideration ; capacity ; and legality . In some states , elements of consideration can be satisfied by a valid substitute.
For example, a typical contract approval workflow might look like this: The contract creator in the sales team sends the contract for approval. The contract is then reviewed by legal counsel, who can approve or reject it. The contract is also reviewed by finance and operations, who provide their verdict.
This process follows these steps: The person requesting the contract completes section A and emails it to the approver. The approver reviews it and approves or rejects the request (recording their decision on the form). If approved, the form is sent on to the relevant team(s) to setup the Vendor and Contract.
The traditional contract law rule is that an acceptance must be the mirror image of the offer. Attempts by offerees to change the terms of the offer or to add new terms to it are treated as counteroffers because they impliedly indicated an intent by the offeree to reject the offer instead of being bound by its terms.
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Each party must provide something of value, such as money, goods, services, or a promise to perform (or refrain from performing) a specific action. For example, in a service agreement, one party offers payment while the other provides a service.

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