<Tr> <Td> <Ul> <Li> </Li> <Li> </Li> <Li> </Li> </Ul> </Td> </Tr> <Ul> <Li> </Li> <Li> </Li> <Li> </Li> </Ul> <P> A contract is a promise or set of promises that are legally enforceable and, if violated, allow the injured party access to legal remedies . Contract law recognises and governs the rights and duties arising from agreements . In the Anglo - American common law, formation of a contract generally requires an offer, acceptance, consideration, and a mutual intent to be bound . Each party must have capacity to enter the contract . Although most oral contracts are binding, some types of contracts may require formalities, such as being in writing or by deed . </P> <P> In the civil law tradition, contract law is a branch of the law of obligations . </P>

What is not part of all contracts the offer time requirements premiums consideration
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