607 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

Amity University, Noida Law A...
Apply
700+ Campus placements at top national and global law firms, corporates and judiciaries
Amity University, Noida BBA A...
Apply
Ranked amongst top 3% universities globally (QS Rankings)
VIT Bhopal University | M.Tec...
Apply
M.Tech admissions open @ VIT Bhopal University | Highest CTC 52 LPA | Apply now
Amity University | M.Tech Adm...
Apply
Ranked amongst top 3% universities globally (QS Rankings).
Graphic Era (Deemed to be Uni...
Apply
NAAC A+ Grade | Among top 100 universities of India (NIRF 2024) | 40 crore+ scholarships distributed
Great Lakes PGPM & PGDM Admis...
Apply
Admissions Open | Globally Recognized by AACSB (US) & AMBA (UK) | 17.3 LPA Avg. CTC for PGPM 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