Formation
A contract will be formed (assuming the other requirements are met) when the parties give objective manifestation of an intent to form the contract. Of course, the assent must be given to terms of the agreement. Usually this involves the making by one party of an offer to be bound upon certain terms, and the other parties' acceptance of the offer on the same terms.
Because offer and acceptance are necessarily intertwined, in California, offer and acceptance are analyzed together as subelements of a single element, known either as consent of the parties or mutual assent.
Read more about this topic: Offer And Acceptance
Famous quotes containing the word formation:
“It is because the body is a machine that education is possible. Education is the formation of habits, a superinducing of an artificial organisation upon the natural organisation of the body.”
—Thomas Henry Huxley (1825–1895)
“The formation of an oppositional world view is necessary for feminist struggle. This means that the world we have most intimately known, the world in which we feel “safe” ... must be radically changed. Perhaps it is the knowledge that everyone must change, not just those we label enemies or oppressors, that has so far served to check our revolutionary impulses.”
—Bell (c. 1955)
“That for which Paul lived and died so gloriously; that for which Jesus gave himself to be crucified; the end that animated the thousand martyrs and heroes who have followed his steps, was to redeem us from a formal religion, and teach us to seek our well-being in the formation of the soul.”
—Ralph Waldo Emerson (1803–1882)