592 Views

discuss the basic elements of valid contracts


mk498817 6th Apr, 2022
Answers (2)
AVINASH KUMAR 6th Apr, 2022

Dear aspirant hope you are doing well....

A contract has six important elements so that it will be valid which is offer, acceptance, consideration, intention to create legal relation, certainty and capacity.....

And even though contracts are infinitely varied in length, terms, and complexity, all contracts must contain these six essential elements.

  1. Offer.
  2. Acceptance.
  3. Awareness.
  4. Consideration.
  5. Capacity.
  6. Legality.

Hope it's helpful thank you...

Prachi Panda 6th Apr, 2022

Hello,

A contract has six important elements so that it will be valid which is offer, acceptance, consideration, intention to create legal relation, certainty and capacity. If the main elements are not in contract, it would be an invalid contract.

There are six basic requirements in a legally implementable contract:

  • An offer
  • An acceptance
  • Competent parties who have the legal capacity to contract
  • Lawful subject matter
  • Mutuality of obligation
  • Consideration
  • Offer

Thank you.

Related Questions

Chandigarh University Admissi...
Apply
Ranked #1 Among all Private Indian Universities in QS Asia Rankings 2025 | Scholarships worth 210 CR
TAPMI MBA 2025 | Technology M...
Apply
MBA Admission Open in Technology Management and AI & Data Science | NAAC A++ | Institution of Eminence | Assured Scholarships
Sanskriti University LLM Admi...
Apply
Best innovation and research-driven university of Uttar Pradesh
Maya Devi University LLM admi...
Apply
43.6 LPA Highest Package | 5.48 LPA Average Package | 150+ Courses in UG, PG, Ph.D
Amity University, Noida Law A...
Apply
700+ Campus placements at top national and global law firms, corporates, and judiciaries
Great Lakes PGPM & PGDM 2025
Apply
Admissions Open | Globally Recognized by AACSB (US) & AMBA (UK) | 17.3 LPA Avg. CTC for PGPM 2024 | Extended Application Deadline: 10th Feb 2024
View All Application Forms

Download the Careers360 App on your Android phone

Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile

150M+ Students
30,000+ Colleges
500+ Exams
1500+ E-books