Transcription of Sales Associate Course - Gold Coast Schools
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Sales Associate Course - Gold Coast Schools
Copyright Gold Coast Schools1 Chapter ElevenSales Associate CourseContractsCopyright Gold Coast Schools2 Elements of a Valid Contract Lawful subject Must have a legal purpose to be enforceableCopyright Gold Coast Schools3 Elements of a Valid Contract Agreement Offerorgives an offer Offereereceives an offer Meeting of the minds Parties must reach agreement on all terms of a contract An offer becomes a contract when accepted and acceptance is communicated to all partiesCopyright Gold Coast Schools4 Elements of a Valid Contract Consideration Each party must be obligated by including some form of consideration Two types Valuable consideration -money or something equivalent Good consideration -love and affectionCopyright Gold Coast Schools5 Elements of a Valid Contract Two or more competent parties Legal age Sane and sober Voidable contract Contract between an adult
Statute of Frauds Transfer of a right or interest in land Must be in writing to be enforceable – Purchase and sale contract – Lease over a year
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