REG Contracts · Updated November 2026
What Actually Creates an Enforceable Contract?
Before asking who breached, establish whether an enforceable contract exists.
Offer
A valid offer must show appropriate intent and sufficiently definite terms under the governing law.
Acceptance
Acceptance generally must occur while the offer is still open and comply with applicable rules.
Consideration
Each party generally exchanges legally sufficient value or a bargained-for detriment.
Capacity and legality
The parties must satisfy applicable capacity requirements and the bargain must not violate law or public policy.
Termination of offer
Offers can terminate through revocation, rejection, counteroffer, lapse, and other legal events.
The takeaway
Before asking who breached, prove that a contract existed.
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FAQ
Is a gift promise normally supported by consideration?
Not merely because someone promised to give something.
Can a counteroffer terminate the original offer?
Generally under common-law principles, yes.
Does every contract need to be written?
No.