The requirement that the subject matter of a contract must be legal in order for the contract to be enforceable.
Offer and Acceptance: The basic building blocks of any contract, offer and acceptance identify the contractual intention of the parties involved.
Consideration: The exchange of value in a contract, consideration is what motivates parties to enter into a legally binding agreement.
Capacity: The legal ability of a party to enter into a contract, capacity is often assessed based on age, mental capacity, and other factors.
Fraud and Misrepresentation: Intentional misrepresentations or falsehoods can render a contract voidable, while fraudulent conduct can result in rescission or damages.
Duress and Undue Influence: Pressure exerted on a party to enter into a contract can render it voidable or unenforceable, particularly where the party lacks equal bargaining power.
Unconscionability: Contracts that are grossly unfair, oppressive, or one-sided may be unenforceable, particularly where one party has taken advantage of the other.
Performance and Breach: The parties' obligations under the contract, as well as the remedies available in the event of breach or non-performance.
Assignment and Delegation: The transfer of rights or obligations under a contract to another party, typically subject to various legal requirements.
Termination and Rescission: The various methods by which a contract may be terminated or rescinded, including by mutual agreement, illegality, or frustration.
Remedies: The available legal remedies in the event of a breach, including specific performance, damages, and other forms of relief.
Valid Contract: A valid contract is one that is legally binding and enforceable. It must meet all the legal requirements for a contract to be formed.
Void Contract: A void contract is one that cannot be enforced by law, and it is considered null and void from the beginning.
Voidable Contract: A voidable contract is one that appears valid, but it can be canceled by one or more parties at any time, usually because of some defect or lack of capacity.
Unenforceable Contract: An unenforceable contract is one that can be legally formed, but it cannot be enforced in court, usually because of some legal technicality.
Illegal Contract: An illegal contract is one that involves an illegal act or purpose, and it is non-binding and unenforceable.
Executed Contract: An executed contract is one that has been fully performed by both parties.
Executory Contract: An executory contract is one that has not yet been fully performed by one or both parties.
Bilateral Contract: A bilateral contract is one that involves the exchange of promises by both parties.
Unilateral Contract: A unilateral contract is one that involves a promise by one party to do something in exchange for a specific act by the other party.
Express Contract: An express contract is one that is established through oral or written communication.
Implied Contract: An implied contract is one that is inferred from the actions or conduct of the parties involved.
Quasi-Contract: A quasi-contract is a legal fiction that is created by the court to prevent one party from being unjustly enriched at the expense of another party. It is not an actual contract but is considered quasi-contractual by the court.