Title: Describe an agreement that has all the components of a global contract.
Course: Opportunities in Global Trade, Advanced (12056-II) > Section: Examining International Legal Systems and Liabilities

Description should include the five essential components:

- Capacity
- Mutual agreement
- Consideration
- Legal purpose
- Choice of law

Process/Skill Questions:

- What are the consequences when one of these essential components is not present?
- How is legal purpose established?
- When might an agreement fall short of becoming a contract?
- How do parties from two different nations determine type(s) of consideration?
- What happens if there is a breach of contract?