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Hey, i dont know whether your from the US, but in Aus there are 5 elements:agreement (offer, acceptance, certainty of terms etc), consideration (price paid for a promise), intention to create legal relations, capacity to contract (ie minors, bankrupts, mental disimpairment, drunkeness etc), & formalities (only with land & contracts of guarantee)

that probably wont help much if you're from America, coz the laws are slightly difference.

catchya

In the US there are six elelments:

Agreement - an offer and an acceptance are included in an agreement to form a contract. An offer by one party to enter into a legal agreement and an acceptance of the terms by another.

Consideration - Something of value passing from one party to another in return for a promise to do something.

Contractual capacity - the parties must be legally capable of entering into a contractual relationship.

Legality - the object or the purpose of the contract must be legal and not against public policy.

Voluntary consent, or genuineness of assent - the consent of the parties must be genuine. The contract must be a genuine expression of the intentions of the parties.

Form - the contract must be in whatever form the law requires.

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โˆ™ 2010-06-12 18:19:28
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Q: What are the seven elements of a contract?
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