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In turn, the party or parties receiving the offer must have given consent to the terms in a fashion determined by the objective theory of contracts. (Cheeseman, p. 185)
b. Consideration: The consideration in a contract refers to something of legal value being negotiated for in exchange for goods or services. Something of legal value supporting the contract means the one accepting the offer incurs a legal loss or the one making the offer experiences a legal gain. (Cheeseman, p.195)
c. Contractual capacity: This requirement to a valid contract ensures that the parties entering into the contract are fully capable of reasonably understanding all aspects of the contract...
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