While formal contracts are carefully drafted to ensure that each of these elements are fully incorporated in the contract docs, they may have no more validity than contracts drafted on the "back of an envelope." If the basic elements above are fully addressed in the agreement, the contract is valid and will be binding on the parties to that contract.

For this forum question,you and your partner have been assigned one valid contract criteria. Research it and using APA Guidelines, cite a minimum of one reference; explaining what it is, why it is important and use an example(s), either hypothetical or one you have experiences, to demonstrate your points.

one valid contract criteria-Why enter into a construction contract at all?