Requirements of a Contract

Contract terms and conditions may vary depending on the type of service procured. However, every contract, regardless of the service it procures, must adhere to the following contractual requirements:
Offer and Acceptance:
One party must offer to enter into a legal agreement, and the other party must accept the terms of the offer,
Consideration:
Any promises made by parties must be supported by legally sufficient and bargained for consideration (promise of payment), which is the cause, motive, benefit or price that induces parties to enter the contract,
Contractual Capacity:
Both parties entering into the contract must have the legal capacity to do so. They must be recognized by law to possess characteristics qualifying them as competent parties,
Legality:
The contract must be made to accomplish some goal that is legal and not against public policy,
Consent:
Apparent consent of both parties must be genuine, and
Form:
The contract must be in writing.