What is the primary requirement of a contract?

The primary requirement of a contract is offer and acceptance. This means that for a contract to be valid, one party must make a clear and definite offer to another party, who must then accept that offer in a manner that demonstrates agreement. This mutual assent is foundational to forming a contract; without it, there is no binding agreement between the parties.

While consideration, mutual consent, written documentation, and legal purpose are important elements of a contract, they build upon the base of offer and acceptance. Consideration involves something of value exchanged between the parties, mutual consent indicates an agreement to the terms, and a legal purpose ensures that the contract is for lawful activities. However, these elements assume that the initial offer has been made and accepted, highlighting the critical role of offer and acceptance as the first step in establishing a valid contract.