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).