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Most people can legally write a contract. Even though there are not many rules about who can write a contract, drafting a contract can be complicated. Contract drafting and review requires planning and at least some understanding of contract law. The average person usually does not know contract law.
The law does not require you to complete a contract with your self-employed or freelance workers - a verbal contract can exist even when there is nothing in writing.
The Three Elements of an Enforceable Business ContractThe Offer. The first element of a valid contract is an offer. One party makes an offer to another party.The Acceptance. When an offer is made by one party, the offer must be accepted by the other party for the contract to be valid.Consideration.
Contracts that do not contain the required elements are void in court and not enforceable.Mutual Assent. A contract must always have mutual assent to be binding.Legality. Enforceable contracts are only those which involve legal activities within the scope of the law.Consideration.Capactiy.Statute of Frauds.
According to the Contract Act, 1872, the requirements for a valid contract are the Agreement and Enforceability:Agreement. The first recruitment of a valid contract is an agreement.Enforceability.Offer and Acceptance.Legal relationship.Lawful consideration.Competency of parties.Free consent.Lawful objects.More items...
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.
Ten Tips for Making Solid Business Agreements and ContractsGet it in writing.Keep it simple.Deal with the right person.Identify each party correctly.Spell out all of the details.Specify payment obligations.Agree on circumstances that terminate the contract.Agree on a way to resolve disputes.More items...
Can you write your own contracts? The simple answer is YES. You can write your own contracts. There is no requirement that they must be written by a lawyer.
It must contain an offer and acceptance of that offer. There must be something of value exchanged, such as money or a promise. The legal term for this is "consideration." The contract must also be between parties that are competent and have mutual consent, meaning both are willing and able to agree on the contract.