**Offer and Acceptance**: - An offer is a proposal by one party to another to enter into a contract. - For a valid acceptance, the offeree must accept the offer as presented without modifications. 2. **Consideration**: - Consideration is something of legal value given in exchange for a promise. - Consideration distinguishes a contract from a gift because contracts require this exchange of value. 3. **Intention to Create Legal Relations**: - Both parties must intend to be legally bound by the terms of the contract. - This element determines whether an agreement is a legally enforceable contract or a social arrangement. 4. **Capacity**: - Contractual capacity refers to the parties' legal ability to enter into a contract. - Minors and mentally incompetent individuals may lack the capacity to contract. 5. **Legality of Object**: - The object of the contract must be legal and not against public policy. - Contracts that involve illegal activities or go against established laws are not enforceable. 6. **Certainty and Completeness**: - Contracts must have clear and definite terms that are easily understood by both parties. - Ambiguous clauses may lead to disputes over the contract's interpretation. 7. **Consent**: - Consent must be genuine and