Question

Mention and clearly explain four essential ingredients for the existence of a contract​

Answer 1

Answer:

For a contract to be legally binding it must contain four essential elements:

an offer

an acceptance

an intention to create a legal relationship

a consideration (usually money).

However it may still be considered invalid if it:

entices someone to commit a crime, or is illegal

is entered into by someone that lacks capacity, such as a minor or bankrupt

was agreed through misleading or deceptive conduct, duress, unconscionable conduct or undue influence.