What Are The Elements Of The Legal Contract?

There are different elements of the legal contract which are as follows;

Offer and acceptance: For an agreement there must be a lawful offer by one party and lawful acceptance of that offer from the other party. The term lawful means that the offer and acceptance must satisfy the requirements of contract act. The offer should be made with the purpose of creating legal relations otherwise there will be an agreement. A says to B that he will sell his cycle to him for rupees 2000. thi sis an offer. If B accepts this offer there is a legal acceptance.

Legal relationship: the parties to an agreement must create legal relationship. It arises when parties know that if one of them does not fulfill his part of promise, he shall be liable for the failure to a contract. Agreements of a social or domestic nature do not make legal relationships and as such cannot give rise to a contract. It is presumed in commercial agreements that parties mean to make legal relationships. A father promises today his son for rupees 1000 every month for his pocket money. But later on due to any reason he does not pay his son rupees 1000 the son cannot cover it because it is social agreement and does have any legal status.