This article will be providing an overview on the five (5) requirements, general rules and exceptions that parties might face during the formation of a legal contract between them.
Aliqui dare, Aliqui retineri.
Conclusion
These are the five (5) main requirements for the creation of a legal contract that is binding between parties. General rules that are set out above, are subject to exceptions. This means that based on the unique facts of each case, different conclusions as to whether a legal binding contract is formed can be reached. This is why prior to the creation of a contract, parties should turn to legal advisors if possible. This may help reduce or avoid any problems arising from the improper formation of a contract between the parties.