The Six Essential Elements
There are six essential elements that must be in place for a contract to be valid. Missing even one of these means that it is a void contract.
The six essential elements are C.C.C.O.I.L.
This stands for Consideration, Capacity, Consent, Offer and
acceptance, Intent, and Legal.
Consideration means that each party gives something of value to the other, e.g. money for a book.
Capacity that both parties are of the legal age (18 or older), and are both legally sane (also includes cannot be drunk).
Consent means that each party must freely enter the contract (e.g. no blackmail/force/pressure)
Offer and Acceptance means that a contract is offered and accepted.ntent means that both parties intended to enter the contract.
Legal means that all activity involved in the contract must be legal.
The six essential elements are C.C.C.O.I.L.
This stands for Consideration, Capacity, Consent, Offer and
acceptance, Intent, and Legal.
Consideration means that each party gives something of value to the other, e.g. money for a book.
Capacity that both parties are of the legal age (18 or older), and are both legally sane (also includes cannot be drunk).
Consent means that each party must freely enter the contract (e.g. no blackmail/force/pressure)
Offer and Acceptance means that a contract is offered and accepted.ntent means that both parties intended to enter the contract.
Legal means that all activity involved in the contract must be legal.
