Six Characteristics of a Valid/Enforceable Contract

There are six features that every contract needs to have, if it is to be considered a valid and/or enforceable contract. These six characteristics are:

  1. Meeting of the minds
  2. In writing
  3. Consideration
  4. At least two competent parties as to the parts of a buyer and a seller
  5. Names and signatures of all parties on the contract
  6. Exact address of the property