The Four Principles of an Enforceable Contract II

The Four Principles of an Enforceable Contract II

Arun Singh

40 years - Corporate Lawyer

In this video, Arun explains the other two main principles of a legally enforceable contract: consideration and the intention to create legal relations. He starts by discussing how a person who wants to have a binding promise must have provided consideration and continues with the last principle, being an intention to create legal relations and the need for it.

In this video, Arun explains the other two main principles of a legally enforceable contract: consideration and the intention to create legal relations. He starts by discussing how a person who wants to have a binding promise must have provided consideration and continues with the last principle, being an intention to create legal relations and the need for it.

Join now to start learning today

Finance Unlocked is the video learning platform built for finance professionals.

This content is also available as part of a premium, accredited video course. Sign up for a 14-day trial to watch for free.

The Four Principles of an Enforceable Contract II

7 mins 20 secs

Overview

For a contract to be legally binding, and therefore enforceable, it needs to satisfy four principles: offer, acceptance, consideration and the intention to create legal relations. Consideration requires the exchange of something of value and to make a contract there has to be a clear intention.

Key learning objectives:

  • Understand the importance of consideration

  • Outline what intention to create legal relations means

Join now to watch

This content is also available as part of a premium, accredited video course. Sign up for a 14-day trial to watch for free.

Summary
logo-animationlogo-animationlogo-animation

Join now to watch

This content is also available as part of a premium, accredited video course. Sign up for a 14-day trial to watch for free.

Expert
Arun Singh

Arun Singh

Arun Singh is a lawyer with over 35 years of experience and was a partner at PinsentMasons and KPMGLegal. He delivers public and in-house courses internationally to corporates, banks, sovereign wealth funds, government organisations and universities. He is the co-author of 'How to Lead Smart People', shortlisted for the Business Book Awards and The Chartered Institute of Management Book of the Year.

Related videos