Question: what are the essential elements of a valid?
Answer: Offer and Acceptance. Basically, a contract unfolds when an offer by one party is accepted by the other party . ...  Intention to Create Legal Relationship. ...  Capacity to Contract. ...  Genuine and Free Consent. ...  Lawful Object. ...  Lawful Consideration. ...  Certainty and Possibility of Performance. ...  Legal Formalities.