Top Rated Solution for Vendor and Contract Lifecycle Management

G2 reviews, 4.5 stars Software Advice, 4.7 stars

“Before Gatekeeper, our contracts were everywhere and nowhere.”

Anastasiia Sergeeva, Legal Operations Manager, BlaBlaCar

“Gatekeeper is that friendly tap on the shoulder, to remind me what needs our attention.”

Donna Roccoforte, Paralegal, Hakkasan Group

“Great System. Vetted over 25 other systems and Gatekeeper rose to the top.”

Randall S. Wood, Associate Corporate Counsel, Cricut

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Gatekeeper Contract and Vendor Management Glossary

Search common contracting language and take a deeper dive to discover what each means

Elements of a Contract

The Elements of a Contract are the aspects that make it legally binding and differentiated to a simple agreement or promise. 

The elements change based on what part of the world you are in as they are dictated by local jurisdiction. 

In the UK, elements of a contract are:

  • Offer and acceptance
  • Consideration
  • Intention to be legally bound
  • Contractual capacity

While in the US, awareness and legality are added to the list. 

If a single element of a contract is missing, then the agreement is not legally binding and it cannot be enforced.