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ENFORCEABLE CONTRACT

TheLaw.com Law Dictionary & Black's Law Dictionary 2nd Ed.

A agreement that is legally enforceable, obligating one party to do or not to do something in exchange for consideration or something of value. In order for there to be a legally enforceable contract, the presence of three elements is required: (a) an offer, (b) an acceptance, (c) an exchange of consideration between the parties, even if just nominal or peppercorn.

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