A 1is a legal, binding and enforceable 2made between two or more parties. We can also 3a contract as an exchange of promises which the law will 4. To be legally binding as a contract, a 5must be exchanged for adequate 6. On the other hand, to make the contract 7, it is 8that the parties to sign a contract have legal power and freedom of 9contract. They must intend it to be binding. They must agree on the 10of the contract and the purpose must be 11. There must be valuable terms and the terms of the agreement must be clearenough to be understood.