What is established by obtaining the signatures of all parties in a contract?

The establishment of a contract through the signatures of all parties is fundamentally linked to the concepts of offer and acceptance. When all parties to a contract sign the document, they are indicating their agreement to the terms laid out in the contract. This signifies that an offer has been made by one party and that the other party has accepted this offer, creating mutual assent. This mutual assent is a core principle of contract law, as it demonstrates that the parties involved have come to a clear and mutual understanding of their obligations under the contract.

While consideration, legality, and capacity are also essential elements of a valid contract, they do not directly relate to the act of signing. Consideration refers to something of value exchanged between the parties, legality concerns whether the contract’s terms are lawful, and capacity involves the legal ability of the parties to enter into a contract. Therefore, obtaining signatures is specifically tied to the concepts of offer and acceptance, affirming that both parties agree to the contractual terms.