An offer is an expression of willingness to enter into a contract with another party. The elements of an offer are the key components that must be present for it to be valid and legally binding. These include an invitation to act, consideration, communication, intent to create legal relations and the specificity of terms. Each element of an offer needs to be clear and unambiguous in order to make the offer legally valid. When all the necessary elements of an offer are in place, then it can become a binding agreement if accepted by the other party.