The actual contents of a valid contract will vary based on the subject of the contract. But the six elements must be present or else the contract cannot be enforced if it is challenged.

A: In order to have a valid and binding legal contract, three elements are required: an offer, acceptance of that offer and consideration.

Twisted legalese aside, the core elements are clear agreement and a mutual promise to exchange something of value.

The Offer The Offer is the key element that defines the relevant issues in the contract. To be a legally valid offer, the offer must be effectively communicated so that the receiving party has the ...

Seven Elements of a Business Contract. Small businesses frequently enter into contracts with customers for the sale of products or services, with vendors for the supply of goods and with employees.