What are the 4 essential ingredients of a contract?

Answer 1

There must be an offer, there must be acceptance of the offer, and there must be mutual agreement on the terms. Finally there must be consideration (usually money, but currency is not exclusive--any form of gratification that is legal will suffice).

Answer 2

1. Agreement: Was an offer made and was it accepted? If the offer was accepted does it adhere to the mirror image rule?.
2. Consideration: Was there a legal detriment to each person who entered into the contract? (eg. money for a service, or giving up a right one is legally entitled to)
3. Capacity: Did each party involved in the contract have the capacity to enter into it in the first place? Minors (with the exception of emancipated children, and those who entered into a contract for necessities), the legally insane, and in some cases, intoxicated persons do not have the capacity to enter into contracts.
4. Legality: Is the contract legal? Does it violate a statute or public policy (eg. a noncompete, marital interference, exculpatory clauses, or is it immoral?)

Answer 3

They are:

Offer and acceptance of that offer;

Form or consideration;

Genuineness of the parties entering the contract;

Capacity of the parties entering into the contract;

Legality of the subject matter;

Possibility;

Good faith.
answer

Answer 4

1. Agreement
2. Consideration
3. Legal
4. Contractual Capacity

Answer 5

1. Offer
2. Agreement
3. Meeting of the Minds
4. Actual Intent

Answer 6

person who offers, person who accepts, an agreement and a consideration for value received or service enjoyed.