Comment on the essential elements of a valid contract and the importance of each.

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"A valid contract, in essence, is the agreement between its parties". Discuss this statement and, using both case law and legal principles, comment on the essential elements of a valid contract and the importance of each. To a certain extent this statement is true but it is only one element of a valid contract to explain please find following all elements and conditions within a valid contract. To Contract: Is to enter into a relationship or agreement between two or more parties that create in each party a duty to do or to refrain from doing something. Normally this means one party making an offer and the other accepting it. Then if one of the parties or persons fails to keep his or her promises, the other is entitled to legal recourse…show more content…
An example of an offer made to the general public is: Carhill v The Carbolic Smoke Ball Company (1893) the defendants were the manufactures of 'smokeballs', which they claimed, could prevent flu. They published advertisements stating that if anyone used their smokeball for a specified time and still caught flu, they would pay that person �0, and that to prove they were serious about the claim, they had deposited �00 with their bankers. Mrs Carhill bought and used a smokeball, but still ended up with the flu. She therefore claimed the �0, which the company refused to pay. They argued that their advertisement could not give rise to a contract, since it was impossible to make a contract with the whole world, and that therefore they were not legally bound to pay the money. This argument was rejected by the court, which held that the advertisement did constitute an offer to the world at large, which became a contract when it was accepted by Mrs Carhill using the smokeball and getting the flu. Mrs Carhill was then entitled to the �0. How long does an offer last? Acceptance Acceptance of an offer is defined as the unconditional conformity of the offeree to all terms of that offer also an acceptance of an offer is through either a promise or performance. A valid acceptance requires that all terms agreed to are the same to that in the offer. The offeree must communicate their acceptance by some reasonable means. The various different ways an offer can be accepted is by mail,

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