Contract requirements
What are the basic requirements for making a valid contract? A valid contract normally contains the following five basic elements. (i) Intention to create legal 21 Jul 2010 Notwithstanding the requirements of the Statute of Frauds, an agreement may be upheld in court if the party being sued admits under oath to A contract is a legally binding promise made between at least 2 parties in order to fulfil an obligation in exchange for something of value. Contracts can either be