Commercial Law Assignment, KU, Singapore: A legally binding contract was formed when the essential elements are present. They are offer, acceptance, consideration, intention to create legal relations
| University | Kaplan University (KU) |
- Introduction
A legally binding contract was formed when the essential elements are present. They are offer, acceptance, consideration, intention to create legal relations. If any one of the elements is missing, no legally binding contract will be formed.
The overall issue in the question is whether a contract was formed between Goh and Lucas (Prime Car Dealers), also between Goh and Aisyah.
Exhibit 1 : Timeline for Facts of the Matter
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