A An agreement that the law will enforce. is a Able to be enforced by law. agreement between two parties. A contract is Legally binding or effective. and enforceable if the agreement contains sufficient Material presented to a court to prove or disprove a fact. It can include what witnesses say as well as documents and other objects. of the following elements:
1 an The first step in agreeing to make a legally binding agreement. An offer must be accepted before there can be a legally enforceable contract. For example, a person can offer to sell their car for $5000 and a buyer can accept the offer and pay that purchase price. and an acceptance;
2 a common intention between the parties to create binding relations;
3 the giving of ‘consideration’ for the promise;
4 legal The ability to understand and be held responsible by the law for your actions. It also refers to a person’s ability to understand and agree to something, such as to undergo medical treatment. Full legal capacity is reached at 18 years of age, when a child becomes an adult. of the parties to A written law made by parliament. Also called an ‘Act of parliament’, ‘statute’ or legislation.;
5 genuine To agree to something being done, to approve an action or arrangement. See also informed consent. of the parties; and
6 legality of the agreement.
An agreement that lacks one or more of these elements is not a valid contract.