A contract is a deliberate arrangement between two or more parties that is enforceable at law. It is a legally-binding agreement that compels two or more parties to complete certain responsibilities. It creates rights and obligations to parties of the contract.

The construction of a contract generally requires an offer, acceptance, consideration, certainty, capacity and free consent.

In the modern age of legal development, contract law has importance in every business activities in the society. It is an inevitable subject-matter of business or corporate law.

With the following points as guide:

1. Critically analyse the elements of contract in their respective significance in making a contract valid.