Legally binding contracts are deemed fair by the court if they adhere to the agreement's elements, capacity, considerations, and intention. Agreements comprise offers issued in informal milieus, such as work offers given to new hires, or invitation to tender during procurement processes. Offers are only considered as contractually binding if they receive a non-coerced acceptance from the party extended the invitation ( Governatori, Idelberger, Milosevic, Riveret, Sartor, & Xu, 2018) . For instance, an incoming employee's approval of a job offer can only be legally binding and fair if the incoming employee agrees to sign the offer letter, with associated terms and conditions listed in the aforementioned document. Further, a court considers a contract fair if either contracting parties conceptualize the legalities and consequences of signing the agreement ( Bhandari, 2020) . According to the court, word of mouth agreements, coerced, fraudulent, and misinterpreted contracts are not legally binding or fair. Furthermore, the consideration element must be present for a contract to be considered acceptable by a court of law ( Draper, & Newton, 2017) . The contracting parties must have aspects of value exchange, where, for instance, an employee proffers their skills to the company in exchange for a salary. Finally, a contract must have the intent component, proving that the agreement will legally bind all the parties.
Courts may consider a contract as unfair if either contracting party abuses the agreements, intent, capacity, and consideration elements. For instance, a contract is unjust if an incoming employee did not sign any agreement or communicate willingness is forced to incur legal consequences of any action, such as abrupt resignation from a toxic work environment. Further, a contract is unfair if the second party does mentally challenged or a minor without the capacity to conceptualize the consequences of a legally binding agreement ( Lewis, 2017) . Moreover, a contract is unjust if it has insufficient considerations, such as when one party offers value while the other does not, such as exchanging items with sentimental value in a romantic relationship ( Aldridge-Anthony, 2019) . Finally, a contract is unfair if the legal element of intention is absent, such as friends agreeing to assemble in a social environment.
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References
Aldridge-Anthony, L. R. (2019). Strategies for Reducing Protests Resulting From Insufficient Contract Proposals. Walden University , 1-127. Retrieved from https://scholarworks.waldenu.edu/dissertations/7456/
Bhandari, A. (2020). Firm Strategies, Weak Rule of Law: Contract Enforcement in Informal Environments. Retrieved from https://static1.squarespace.com/static/5ade668fb27e39802ce49e40/t/5ede90784cf109692d3cee01/1591644288065/Enforcement_Senegal.pdf
Draper, M. J., & Newton, P. M. (2017). A legal approach to tackling contract cheating? International Journal for Educational Integrity , 13 (1). doi:10.1007/s40979-017-0022-5
Governatori, G., Idelberger, F., Milosevic, Z., Riveret, R., Sartor, G., & Xu, X. (2018). On legal contracts, imperative and declarative smart contracts, and blockchain systems. Artificial Intelligence and Law , 26 (4), 377-409. doi:10.1007/s10506-018-9223-3
Lewis, M. S. (2017). Pervasive Infancy: Reassessing the Contract Capacity of Adults in Modern America. UNH Law Review, Forthcoming, , 1-71. Retrieved from https://papers.ssrn.com/sol3/Papers.cfm?abstract_id=3526991
