CHARACTERISTICS

OF A SIMPLE
AGREEMENT

Legaldjinn
CONTRACT

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Introduction
A simple contract is an agreement made by two business parties or
persons. This agreement can be a written one or an oral one. There must
be an offer, consideration, and acceptance to make it valid.

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It’s advisable to have a written
contract rather than a verbal
one. 03
1 There must be offer and acceptance.
The offerer is the party that makes the offer and the
offeree is the person that the offer is being made to. There
must a clear offer and clear acceptance for a contract to
be binding.

2 Consideration

Is the price paid by one party for the promise of the other.
Thus if one party promises to provide goods or services,
something of value must be given in exchange. This may
be in the form of money, goods, services or it may be an
act of forbearance.

3 The capacity to contract

Parties to the contract must be over 18 years, of sound
mind, not under the influence of drungs or imprisoned
4 There must be no force,
misrepresentation or fraud

Persons should not be forced to sign a contract e.g

blackmail. They should not be lied to giving the wrong
year. Fraud may involve forging someone's signature.

There must be an obvious

5 intention to create legal relations

This is based on the actions of the parties eg.

offer, acceptance, and consideration.

6 A contract must be legal

Thus, agreements made between parties

concerning illegal drugs and any other illegal
activity is not a contract
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