The first component in a contract is establishing an offer, which was established by theproprietor quoting the delegates a price.Another prerequisite of a valid contract isacknowledgment.The agents consented to price offered by the proprietor, which establishedacceptance.The third component is consideration which should be established with the contract.In this case, consideration is the fireworks display that Acme Fireworks agreed to provide at thecost agreed upon.Also, legality should be considered when guaranteeing a contract is legitimate.If Acme Fireworks can guarantee the fireworks are obtained through genuine channels and therequired permits, legality should be obtained.The final component is guaranteeing a legitimateagreement, and proprietors should not be affected by any substance that would debilitate theircapacity of making rational choices with the equivalent applying to the agents as well.If theproprietor or the delegates were underage, the agreement becomes unlawful and breached(Rogers, 2012)