Q&As

Do you have any guidance on verbal contracts and proving their validity?

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Published by a LexisNexis Commercial expert
Published on: 31 January 2018
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This Q&A refers to a business-to-business contract which is not subject to specific industry or sector regulation.

Offer and acceptance

A simple contract in writing is usually executed by way of signing and dating that document. The key requirement for the formation of a contract is that there is acceptance of the offer which is then communicated to the other party. See the following Practice Notes which contain sections on offers and acceptance and

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Jurisdiction(s):
United Kingdom
Key definition:
Contract definition
What does Contract mean?

A contract is a legally binding promise (oral or in writing) by one person to fulfil an obligation to another person in return for consideration. A binding contract comprises four elements: offer, acceptance, consideration and intention to create legal relations.

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