The basic elements of a contract are easy to spot, once you know what you are looking for.
Contracts are a part of every business relationship; nevertheless the basics of contracts can be tricky if you aren’t familiar with what goes into one. So, what are the basic elements of a contract? To start out there needs to be competent parties, a defined subject matter, and legal consideration. This video reviews these elements, as well as the importance of mutuality of agreement and obligation in contracts; and discusses what does not make a contract.
Sean R. Smith
Continuum Legal Group LLP
- Attorney with Taylor English Duma LLP in Atlanta
- Represents companies and individuals in a multitude of different areas of litigation and alternative dispute resolution
- Tried multiple actions in state and federal courts in Georgia and surrounding states, including a representation of Time Inc., which was noted as one of the 15 significant defense verdicts in the country in 1996
- Represented numerous clients in appeals in both state and federal court
- Advises clients on an ongoing basis regarding various methods of avoiding litigation and making litigation more effective and efficient when it is necessary
- Briefed and argued appeals in numerous appellate courts, including the 11th Circuit, 6th Circuit, the Supreme Courts of Georgia and Montana, and the Court of Appeals of Georgia
- J.D. degree, University of Chicago; A.B. degree, on the law review and was a Hinton Moot Court Finalist, Harvard College
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