There are really only four elements to Contract Law.
1. Offer
2. Acceptance or Rebuttal
3. Intention to Create Legal Relations
As Contract Law along with Trust Law is one of the very founding pillars of Law it is present in all forms of ordinary everyday life, example – buying a newspaper:
1. Offer – Newsagent displays a newspaper and a purchase price, this is the offer to anybody who sees it.
2. Acceptance or Rebuttal – Person either decides to purchase the Newspaper at the stated price or declines to purchase.
3. Intention to create legal relations – By offering the nespaper for sale the newsagent is intending to create a legal responsibility to anyone who accepts the offer to pay the stated price for the said newspaper.
4. Consideration – Both parties to a Contract must bring some Consideration to the bargain, the newsagent brings the Newspaper and the person brings the Currency to be used to purchase the Newspaper.
There are both Written and Verbal Contracts and both are Legal.
