Essential Elements of a Valid Contract (Section 10)
1. Offer (Section 2(a)) and Acceptance (Section 2(b)); 2. Lawful consideration (Section 2(d)); 3. Capacity of parties (Section 11); 4. Free consent (Sections 13-22); 5. Lawful object (Section 23); 6. Not expressly declared void (Sections 24-30).
Free Consent — Vitiating Factors
Coercion (S.15), Undue influence (S.16), Fraud (S.17), Misrepresentation (S.18), Mistake (S.20-22). Coercion, fraud, and misrepresentation make contract voidable. Mistake of fact on both sides makes it void.