Problem:
Having a clear understanding of the courts and where to file specific claims has provided your department with a good basis for where to start when a claim arises. With so many outside venders and human resource issues in today's business world, contractual claims are going to be one of the common claims that arise on a regular basis in many businesses.
The next primer you will prepare for your department's training series will acclimate your colleagues to the world of contracts.
Prepare a 2-3-page, double-spaced document explaining the essential elements of a contract and the applicable remedies in the event of a breach.
Required:
Question 1) What is required for a valid offer? How can one accept an offer?
Question 2) What is the concept of consideration and what form(s) can consideration take in creating a contract?
Question 3) What factors must be considered in assessing the legal sufficiency of an offer, acceptance, and consideration in determining whether a contract is enforceable?
Question 4) In the event that a contract is formed and subsequently broken, what remedies are available to the non-breaching party under your state's law?
Provide thorough explanation of the given question.