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discuss the basic elements of valid contracts


mk498817 6th Apr, 2022
Answers (2)
AVINASH KUMAR 6th Apr, 2022

Dear aspirant hope you are doing well....

A contract has six important elements so that it will be valid which is offer, acceptance, consideration, intention to create legal relation, certainty and capacity.....

And even though contracts are infinitely varied in length, terms, and complexity, all contracts must contain these six essential elements.

  1. Offer.
  2. Acceptance.
  3. Awareness.
  4. Consideration.
  5. Capacity.
  6. Legality.

Hope it's helpful thank you...

Prachi Panda 6th Apr, 2022

Hello,

A contract has six important elements so that it will be valid which is offer, acceptance, consideration, intention to create legal relation, certainty and capacity. If the main elements are not in contract, it would be an invalid contract.

There are six basic requirements in a legally implementable contract:

  • An offer
  • An acceptance
  • Competent parties who have the legal capacity to contract
  • Lawful subject matter
  • Mutuality of obligation
  • Consideration
  • Offer

Thank you.

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