Contract Formation Elements

Essential elements required to form a valid contract.

  • Law
  • 12 entries
  • 6 sections
  • CC0 — public domain

The data

0

Element
Offer
Description
A clear proposal made by one party to another.

1

Element
Acceptance
Description
Unqualified agreement to the terms of the offer.

2

Element
Consideration
Description
Something of value exchanged between parties.

3

Element
Intention
Description
Parties intend to create legal relations.

4

Element
Capacity
Description
Parties have legal ability to enter a contract.

5

Element
Legality
Description
The contract's purpose must be lawful.

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Topics

  • law
  • contracts
  • elements