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Elements for a Valid Contract to exist
A valid contract does not need to be legally valid, it can be written in simple English and fulfill the needs of all the parties involved in that contract. Although, a contract may not be legal but it should be a written contract so that future issues can be settled on the basis of the written agreement signed by the parties (Rousseau, 1993).
For a contract to be legally valid, it is necessary that all the parties that are in contract must be in agreement, i.e. one of the parties should offer and the other should accept the offer. Secondly, there must be exchange ...view middle of the document...
It is already clear that a valid contract must have the consent of the parties with some exchange of goods and services. There are two other factors that make a contract successful, a valid offer by the offering party and a valid acceptance by the accepting party (Corbin, 1917).
The constitutions of a “valid offer” contains that it must be giving the power to the other party to be accepted or rejected. The offer should present a demonstration of the contractual intents of the offering party and the offer must be certain and the terms and conditions must be defined clearly in the offer. The valid offer must be communicated to the offeree so that it can be accepted (Corbin, 1917).
Richard Franklin has made a valid contract. He has clearly demonstrated all the offerings in the proposal along with the terms and conditions. He also has communicated this offer to Gloria and Gloria can accept or reject the contract. Although there is a deadline for acceptance but it cannot state that the contract is invalid.
The proposal of Jun Chin is also valid as it also demonstrates all the offerings of the contract from her side. However, there are no terms and conditions mentioned in the contract which indicates there are no conditions. This proposal has also been communicated with Gloria.
The third proposal of the Mateo Bonilla is also valid as it also demonstrated all the offers made and all the offer are already communicated with Gloria. Thus, all the three proposals are valid in this context.
Concerns in doing business with different countries
To start a business with different countries suppliers, Gloria needs to take a legal advice as different countries have different law structure and the laws of her country is not valid in their countries. Gloria also needs to study the market structure of the other country and their culture. She also needs to get a clear communication with the offering parties from different countries and assure that they are trust worthy (Zhu, Kraemer & Xu, 2006).