What is contract?
contract is an agreement, either or spoken, between two or more parties that creates a legal obligation. The terms of a contract are enforceable by law, with clearly defined penalties and remedies should the contract be breached.
Some Contract elements :
1.offer and acceptance
2.lawful consideration
3.intention to create legal relationship
4.capacity to contract
5.free consent
6.lawful object
7.Certainty and possibility of performance
8.legal formalities