An agreement, voluntary in nature, between two or more parties, by which the parties undertake legally binding obligations to each other. Elements of an enforceable contract include

  • an offer to be bound to do or refrain from doing something, which has been accepted,
  • sufficient consideration,
  • a valid subject matter,
  • legal capacity of the parties, and (e) for those contracts to which the Statute of Fraud applies, its requirements must be met.
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