Monday, 20 March 2017

ESSENTIAL ELEMENTS OF A VALID CONTRACT [SECTION 10]

ESSENTIAL ELEMENTS OF A VALID CONTRACT [SECTION 10]
All agreements are contracts if they are made by the:-
(i) Free consent of the parties
(ii) Competent to the contract.
(iii) For a lawful consideration &
(iv) With a lawful object &
(v) Are not hereby expressly declared to be void.
(vi) Intention to create legal relationship
(vii) Certainty of meaning
(viii) Possibility of performance
(ix) Legal formalities.

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