There are six key elements of a valid contract:
Offer and acceptance: There must be a clear and unconditional offer from one party and an unconditional acceptance of that offer by the other party.
Consideration: Both parties must exchange something of value. This could be money, goods, services, or a promise to do or not do something.
Capacity: Both parties must have the legal capacity to enter into a contract. This means that they must be of legal age and of sound mind.
Legality: The purpose of the contract must be legal.
Intention to create legal relations: Both parties must intend to create a legally binding agreement.
Certainty: The terms of the contract must be clear and certain.
If any of these elements are missing, the contract may be invalid.
How can a Canadian lawyer help you with contracts?
A Canadian lawyer can help you with all aspects of contracts, including:
- Drafting and reviewing contracts
- Negotiating contracts
- Advising you on the legal implications of contracts
- Representing you in court if necessary
It is important to have a lawyer review any contract before you sign it. A lawyer can help you to understand the terms of the contract and to ensure that your interests are protected.
This article is for informational purposes only and is not legal advice. Contact us today to discuss your specific situation.