Signed Contracts
A signed contract is a legally binding agreement between two or more parties. Contracts are typically in writing, but they can also be verbal. All contracts must contain four essential elements: offer, acceptance, consideration, and intention to create legal relations. If any of these elements is missing, the contract is void and unenforceable.
Most contracts are bilateral, meaning that each party promises to do something for the other party. For example, one party might promise to provide goods or services, while the other party promises to pay for them. But some contracts are unilateral, meaning that only one party makes a promise. For example, a person who finds a lost dog might make a unilateral contract with the owner to return the dog in exchange for a reward.
