3.4 Formation of Simple Contracts
There are three basic elements of the formation of a simple contract:
(a) Agreement: offer and acceptance
(b) Intention to create legal relations.
(c) Consideration.
All three elements must be present if a party is to argue that the
promises made by the other form part of a contract and are therefore
enforceable. While some texts include other elements as essential such
as the capacity of the parties to contract; absence of fraud etc we have
included these issues in the discourse. For present purposes let us
assume that the parties are of full age and they were not misled etc when