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Under UK law following things are necessary to form a valid contract.

1. Offer: An offer is a definite and unequivocal statement of willingness to be bound on specified terms and conditions.

2. Acceptance: Acceptance is unconditional and unqualified consent to all the terms of an offer.

3. Intention to create legal relations: Both parties should have an intention to create a legally enforceable relations. Usually domestic agreements do not have an intention to create legal relations.

4. Other matters

a.) Contracting parties should do the contract willfully

b.) Both parties should have the capacity to enter into contract. (age above 18)

c.) It is not necessary for a contract to be in written form. An oral or implied contract is as valid as a written contract in law.

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14y ago
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13y ago

An offer to do, or carry out, a specific thing, and an acceptance of that offer. Most jurisdictions will prefer that the contract be signed by the involved parties obligating each other, although under some circumnstances a verbal contract, IF PROVEABLE, might be enforceable.

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11y ago

The two things that compose a legally binding contract is the agreement and consideration. The agreement involves a meeting of the minds, where the parties to a contract agree upon the terms of the contract. To make the contract valid, this agreement must include some form of consideration, meaning the contracting parties must receive something of value from the contract.

The agreement part of the contract involves one party making an offer to the other parties involved. The offer needs to clearly specify any terms and conditions that are pertinent to making an agreement, including what's expected from each party and what each will receive in return as consideration for the contract.

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15y ago

Unsure what the question is asking. What "requirements?" What is meant by "legal"contract? Anyone of legal age (an adult) and mentally competent can obligate themselves by signing a contract.

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13y ago

cotractual capacity,lawfull,physical possibilities,consensus and should follow formalities

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11y ago

a valid contract must have offer,acceptance,consideration and intention to create legal relation.

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Q: What are the requirements for a valid and binding contract?
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Related questions

Will a contract always be valid and binding when its contains consideration?

Just because a contract contains consideration does not mean it is legal or binding. There are other requirements that must be met.


Explain consideration and acceptance are the binding element of contract?

An offer is valid only if it is made with an intention of getting the assent of another. when there is no acceptance the contract does not come into existence. For a valid contract there must be consideration which need not be adequate.


Is contract by a non parent to financially support a child enforceable?

It depends on the validity of the contract. If it meets the requirements of a valid contract then it's enforceable.


Binding contract buyer sign and co-buyer don't sign is the contract void?

If the contract was supposedly made for a co-signer and lead signer then no, it would be non-valid if not signed by both parties.


What is valid contarct?

A valid contract is an agreement enforceable by law. A Valid Contract is defined under Sec 2(h) of the Indian Contract Act, of 1872. To know the essential features of forming a valid contract, please refer to Desire 4 Legal Knowledge


If we signed a construction contract for the purchase of land and the build of a home but one of the land owners refused to sign the contract what are our legal ramifications?

If one of the fee owners didn't sign the contract then you don't have a valid contract. In order for the contract to purchase land and build on it to be valid and binding on the parties it must be signed by all of the purchasers and all of the fee owners.


Parties to a contract must be competent to contract?

An acceptance is a response to the offeree that indicated that they approve of the terms of the offer. Once an offer is accepted, a legally binding contract is created. An acceptance must be intentionally made. The offeree must communicate to the offeror that they agree with the terms of the proposed contract. Both parties must be mentally competent for a contract to be legally binding. The contract also cannot contain anything unlawful; otherwise it is also not considered a valid contract. The communication of the acceptance of an offer can be bilateral or unilateral. http://sincerlysamski.blogspot.com/2011/09/writing-valid-contracts.html


Factor that can validate and invalidate a binding contract?

Factors that can validate a binding contract are signatures from all parties and a fulfillment of obligations. A factor that can invalidate a binding contract is undue stress caused as a result of the contract.


Can you handwrite a legally binding agreement with your landlord?

Yes. A contract or agreement need not be written on a typewriter or computer to be valid, as long as it is signed by both parties.


Can a home purchase contract be considered binding in the form of a verbal agreement?

This would violate the statue of frauds. The sale of property must be in writing to be valid.


Can a minor put a house under a contract?

No. A minor cannot sign a binding contract.No. A minor cannot sign a binding contract.No. A minor cannot sign a binding contract.No. A minor cannot sign a binding contract.


What do you meant by contract?

A contract is a legally binding agreement.