what is contract? Discuss the essential elements of a valid contract?
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A contract is a written or spoken agreement, especially one concerning employment, sales, or tenancy, that is intended to be enforceable by law.
Offer and acceptance.
Mutual consent of parties.
Intention to create legal obligation.
Free consent of parties.
Parties must be competent to contract.
Lawful object.
Lawful consideration.
Offer and acceptance.
Mutual consent of parties.
Intention to create legal obligation.
Free consent of parties.
Parties must be competent to contract.
Lawful object.
Lawful consideration.
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