check for plaigarism:$1.$ Essentialia of a Contract

Contract law is essential for business agreements worldwide, including in South Africa, where it is shaped by common law principles and statutes such as the Consumer Protection Act and the National Credit Act. To establish a legally binding contract, Mr$.$ Nzimande must understand the eight essential elements of contract law. He is already familiar with the concept of Consensus which is offer and acceptance of a contract. Consensus, also known as consensus ad idem, signifies the agreement between parties, forming the basis of a contract in South Africa $($The Law of Commerce, The Law of Contract, pg$.43,3\mathrm{.}1).$ Offer and acceptance are the first steps in contract formation. Mr$.$ Nzimande's proposition to collaborate with Mr$.$ Naidoo constitutes the offer, which Mr$.$ Naidoo acknowledges by agreeing to provide graphic design services for the water bottles. However, there are seven other crucial elements essential or essentialia for a contract to be valid. The following seven key elements are crucial for the law of contract.