What Are the Essential Elements of a Contract? List and Discuss

question 26

Essay

What are the essential elements of a contract? List and discuss them.

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Definitions:

Principle of Neutrality

The ethical stance that decisions or actions should not favor any side in a conflict or debate but remain impartial and unbiased.

Contingent Fees

A fee arrangement where payment to a professional, especially a lawyer, depends on the successful resolution of a case, often a percentage of the settlement or judgment.

Ethical Issue

A problem or situation that requires a person or organization to choose between alternatives that must be evaluated as right (ethical) or wrong (unethical) based on moral principles.

Professional Ethics

Encompasses the personal, organizational, and corporate standards of behavior expected of professionals.