<P> A contract in South Africa is classified as an obligationary agreement--it creates enforceable obligations--and ought therefore to be distinguished from absolving agreements (whereby obligations are discharged or extinguished; e.g. release, novation), real or transfer agreements (whereby rights are transferred; e.g. cession), and change - in - status agreements . </P> <P> For a contract to be considered valid and binding in South Africa, the following requirements must be met: </P> <Ol> <Li> There must be consensus ad idem between the contracting parties . </Li> <Li> The parties must have seriously intended the agreement to result in terms which can be enforced . </Li> <Li> The parties must have the capacity to contract . </Li> <Li> The agreement must have certain and definite terms . </Li> <Li> The necessary formalities must be observed . </Li> <Li> The agreement must be lawful . </Li> <Li> The contractual obligations must be possible of performance . </Li> <Li> The content of the agreement must be certain . </Li> </Ol> <Li> There must be consensus ad idem between the contracting parties . </Li>

Requirements for a valid contract in south african law
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