GLOSSARY TERM  
  Contract  
 
  DESCRIPTION  
  For a contract to be legally enforceable, certain requirements concerning its formation must be satisfied.:
(a) the parties must intend to create legal relations;
(b) there must be an offer by one party and an acceptance by the other party;
(c) there must be certainty of agreement;
(d) there must be Consideration; and
(e) the parties must have capacity to enter the contract (eg be of certain age, mental capacity).