1. Both parties must have intention to create legal relations
2. There must be offer and acceptance. (not necessarily in writing)
3. Consideration i.e. the contribution that each party gives to the agreement. It can be an exchange of value or a promise by either party to provide value in the future.
the contract finish /dead time must be valid. this is the most important one.
Offer, acceptance, and (valid) consideration
for valid contract there should be a offer and acceptence nd it should be enforcable by law...means it should be for a legal purpose nd should be with a sound minded person ....
Valid elements of a contract include both parties signatures. A contract must also include both parties agreeing on the terms of the contract.
the elements of contract are multifaceted and can be discribed by many in so many ways.
the contract finish /dead time must be valid. this is the most important one.
Offer and Acceptance Consideration Legal relationship Certainty and not vague Completeness of the contract
VALID SALE ( Bai Sahih)-a sale is valid if all elements together with their conditions arepresent-elements of valid sale are•Contract ( Aqd )•Subject matter ( Mabe'e)•Price ( Thaman )•Possession or delivery ( Qabza )
An agreement enforceable by law is a contract.(agreement+enforceability by law=contract) Elements: 1) proposal and acceptance 2) lawful consideration 3) free consent 4) writing and registration. 5) legal relationship 6) capacity of parties. 7) possibility of performance.
offer acceptance counter-offer request of information
There are 7 ingredients to a valid contract 1. Offer; 2. Acceptance; 3. Consideration 4. Capacity to contract; 5. Intention to Create Legal Relations; 6. Consent 7. Legality
A valid contract is legally enforceable and meets all the essential elements required by law, such as mutual assent, consideration, capacity, legality, and proper form. On the other hand, a void contract is not legally binding from the beginning due to a fundamental flaw, such as illegality, lack of capacity, impossibility, or violation of public policy. A void contract is treated as if it never existed, while a valid contract creates legal obligations between the parties.
Agreement Consideration Legal Object Competent Parties Legal Form
valid contract
No. It is no longer valid.