SCLCI Early Editions: "The 6 Elements of a Contract"

These six elements must be present to render an agreement enforceable and if any are missing, could spoil the agreement. Factor in mutual understanding, clarity, comprehension, and value exchanged.

Is it a Contract?

Submit your last agreement to the test, was it a contract or not?

There are six elements that must be included to form a binding and enforceable contract between entities.

The Critical Elements Needed to Form a Contract.

There are possibilities that you may not have explored when committing to a plan of action, discussing financial terms and conditions, or talking of changes to an existing agreement.

Understand what is necessary or what can be left unanswered for a contract to be considered binding and enforceable for both parties.