Elements of a Valid Contract
Essential Elements of Contracts. The second part Sections 124-238 deals with certain special kinds of contracts namely contracts of Indemnity and Guarantee Bailment Pledge and Agency. Meaning Of Consideration And Essentials Of Valid Consideration Contract Law Offer And Acceptance Meant To Be If the other party were to sue for breach of contract the injured party could argue as a defense that the agreement lacked reality of consent. . A contract must be entered into as the free and voluntary act of each party. Following are the 6 elements of the contract which makes them a valid one. The contract which is no longer enforceable in the court of law is a void one. Elements of Consideration. For a contract to be considered valid six contract elements must all be present. One party makes an offer to perform a service sell a product trade or conduct some other business venture. However there is more to a valid co