Formation of European contracts
The point at which a contract is agreed is one of the most important elements of a contract.
Most of the elements that are necessary for the formation of a contract under the Principles of European Contract Law are similar to those in UK contract law. This includes:
- the process of making an offer and its acceptance
- confidentiality
- good faith in making and accepting the offer
The process of making and accepting an offer and it being accepted is set out in a series of clauses. These define how an offer is made, revoked and accepted. This lies at the core of making a contract. It includes the opportunity to specify time limits and modifications.
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