AbstractA contract is a written agreement which binds two or more parties legally. Acontract is a branch of the law of obligations in jurisdictions of the civil law tradition.The law of contract is a law based on the facets of running a business. The lawprovides an adequate remedy in the event of a breach of contract. In this case, the lawmay be enforced in adherence to the contract law and also the letter of agreementbetween the parties.IntroductionIn the event of an agreement between two parties, a contract acts as a bindingforce. There are various factors which determine the signing of a contract betweenparties. These factors include an agreement, acceptance, consideration, intention,form, capacity and legality. Concerning capacity, the law states that some certainpeople lack capacity when it comes to the signing of a contract. Minors (personsunder the age of 18), intoxicated persons, and mentally challenged people areconsidered not eligible to enter into a contract. Memorization in writing is essential inthe singing of some contracts. In this essay, I will outline the essentials of contract andillustrate the answer by referencing to decided cases.
AgreementThe first prerequisite of any contract is a written agreement which includes anoffer and an acceptance letter. An offer is a promise made in absolute terms by the