What are the key elements of an enforceable contract?
Enforceable contract, which can set up both orally and in writing, have four key elements:
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An intent to create legal relations. Casual commitments among friends and family, for example, lack such intent.
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A bargain, throuch which both parties get something in return of what they offer. Promises to make gifts, for example, are not contracts.
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Both parties need to be serious about the commitment being made. Promises made clearly as jokes, or not intented to be taken literally, are not contracts.
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Legality and morality. Promises are bargains about illegal or immoral transactions, for example an agreement between a robber and his buyer, are not contracts and therefore cannot be legally enforced.
