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Consumer Law 1. A contract is an agreement between two or more people which creates an obligation to do or not do something. The agreement creates a legal relationship of rights and duties. There are three elements necessary to create a contract: offer and acceptance, consideration and intention to create legal relations. One person makes an offer, the second person must accept the offer and there must be consideration exchanged. For a contract to be legally binding not only do the people to the contract have to get something in return but they must also give something in exchange e.g. selling a car and receiving money. Implied terms are incorporated into the contract and the parties are not aware of their existence. These terms are that the goods are satisfactory quality, fit for the purpose and as described (sale of goods act 1979). Problems only arise when these terms are broken....

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