Glossary > E

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.