Create a contract
What makes for a great contract agreement?
Despite the potential complexity and dense terminology inherent in contract law, the fundamental framework of a contract agreement is distilled into four critical components.
Proposal
A proposal occurs when one entity pledges to take a particular action or refrain from doing so in the future towards another entity.
Value Exchange
Value Exchange refers to the benefits or items of worth that are traded between entities when they decide to form a contract.
Concord
Concord is the clear affirmation to adhere to the conditions as set out in the proposal.
Reciprocity
Reciprocity denotes the anticipation that the commitments made between entities are either honored or declined by every participant.
