4 Essentials of a valid contract

Question

Accepted Answer

ElementAbsence leaves Offer and acceptanceNo agreement at all Lawful consideration or objectThe agreement unlawful or unenforceable Capacity of the partiesThe contract void against the incapable party Free consentThe contract voidable at the election of the deceived party Certainty of termsAn agreement too vague to enforce Legality of objectVoid, and possibly criminal Formalities where requiredUnenforceable in the absence of writing or registration

Element	Absence leaves
Offer and acceptance	No agreement at all
Lawful consideration or object	The agreement unlawful or unenforceable
Capacity of the parties	The contract void against the incapable party
Free consent	The contract voidable at the election of the deceived party
Certainty of terms	An agreement too vague to enforce
Legality of object	Void, and possibly criminal
Formalities where required	Unenforceable in the absence of writing or registration

4 Essentials of a valid contract

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