Ontract law: The Elements of a Binding Contract

A short research paper of at least 20 pages of text (including references ) is prepared on a commercial law topic selected by the student, with approval of the faculty member. A commercial research paper plan (outline and abstract) is submitted to the professor specifying the tasks to be performed. Abstract and outline of the legal research papers . Research papers should be uploaded to the assignment section of the Webtycho class by each class member on or before midnight November 13, 2011.

Also, I need a conclusion to be included in the paper. The outline does not need to be followed 100% but at least consider it.

I have a outline also that I want to include.

I. Abstract

II. The definition of a legal contract
a. Parties in a legal contract
i. The Offeror obligations in a binding agreement
ii. The Offeree obligations in a binding agreement
b. Case study of parties in a Contractual Agreement
III. The Classification of a legal contract
a. Formation of a contract
i. Bilateral Contract and Unilateral Contract
ii. Formal and Informal Contract
iii. Executory and Executed Contract
iv. QuasiContract
b. Enforceability of a contract
i. Valid Contract
ii. Void Contract
iii. Voidable Contract
iv. Unenforceable Contract
c. Performance of a contract
i. Executed contract
ii. Executory contract
d. Case Study of a Legal Contract
IV. The Elements of binding contract
a. The Agreement between Parties to legalize an Agreement
i. The Offer
ii. The Acceptance
b. The Lack of Consideration
c. The Contractual Capacity of acceptance in a contractual agreement
d. The Lawful Object of a contract

I. Abstract
This research paper provides uniform procedures for the legality of a contractual agreement between parties and highlights some of the complexities in statutory laws. Over the years, businesses as well as individuals has entered into contracts with minimal or no experience. This downfall has created illegal activities in the formation and administrative process of contracts. In order to avoid future non-enforceable contracts, parties must understand the requirements of a legal contract. The acquisition of each partyas responsibility in a contractual agreement is a force multiplier and minimizes legal proceedings. Moreover, the case studies addressed are included to strengthen the awareness and understanding of a legally enforceable contract. After reading the legality of a contract in this paper, parties will become more susceptible to enter into a legal agreement that forms a contract.