In the UK, a contract consists of four essential elements: Firstly, an offer must be clearly presented by one party to another. Secondly, this offer must be accepted by the other party without alteration, demonstrating their agreement to its terms. Thirdly, consideration—something of value, such as money, goods, or services—must be exchanged between the parties. Lastly, both parties must intend for the agreement to be legally binding, establishing the framework necessary for a valid and enforceable contract under UK law.