The basic elements required for the agreement to be a legally enforceable contract are: mutual assent , expressed by a valid offer and acceptance ; adequate consideration ; capacity ; and legality . In some states , elements of consideration can be satisfied by a valid substitute.
Contract Types Comparison Party 1 offers Unilateral Services or goods that the other party requested, usually in an open request Implied Services or goods Express Anything Simple Something of value to the other party9 more rows •