When two persons or two groups make a deal and set some conditions to fulfill the deal, then both are agreed on the terms and conditions to advance the deal. The methodology to progress the deal is also settled peacefully and when all these specifications are bring into writing then an agreement is made which is then signed by both the individuals and groups. One of the crucial element in writing a business or formal agreement is that it must be in accordance to the relevant law and should include the legal class.
There are some basic elements of an agreement which are listed below
To be agreed on something, anything should be offered first, the deal or operation is offered by one party and the other will look into the offer to accept it or not
For an agreement to be made the offer should be accepted by the other person or party. Mutual consent: It is obvious that both the parties have the similar consent upon the offer, so they are ready to agree on the terms and conditions of the dealing
In various cases the mutual exchange of currency or goods or services are considered in an agreement.
4. Legal Bindings
A good agreement always respects the legal bindings and both the group is ready to follow the law.
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