What Makes a Contract Enforceable? [No. 86]

Professor Todd Zywicki outlines the basic factors that make a contract enforceable. All parties must show that they intended to be legally bound by the contract, according to the assumptions of an ordinary reasonable person. Professor Zywicki then summarizes the two factors required for a legal contract - “consideration” and “offer and acceptance.”
Professor Todd J. Zywicki is George Mason University Foundation Professor of Law at George Mason University Antonin Scalia Law School, and Research Fellow at the GMU Law & Economics Center.
As always, the Federalist Society takes no position on particular legal or public policy issues; all expressions of opinion are those of the speaker.
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