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1.1 - Contract Law overview: Essentials of a contract

The essentials of a contract according to the legal system of Sri Lanka are as under:

  • agreement between the parties;
  • actual or presumed intention of the parties to create a legal obligation;
  • due observance of prescribed forms or modes of agreement;
  • legality and possibility of the object of the agreement;
  • capacity of the parties to contract; [Weeramantry, page 81].


Note: The Common law doctrine of “consideration” does not apply to civil law systems, such as the Roman Dutch law


Related Articles:
  • 1.2 - Contract Law overview: Offer and acceptance
  • 1.3 - Contract Law overview: Withdrawal of offer
  • 1.4 - Contract Law overview: Intention to create legal relations
  • 1.5 - Contract Law overview: "Honour clauses"
  • 2.1 - The Contract: Form
  • 2.2 - The Contract: Prevention of Frauds Ordinance
  • 2.3 - The Contract: Movable property
  • 3.1 - Consideration, Causa
  • 3.2 - Consideration, Causa: Factors vitiating consent
  • 4.1 - Prohibitions: Illegality
  • 4.2 - Prohibitions: Statutory prohibition
  • 4.3 - Prohibitions: Common law prohibitions
  • 5.1 - Additional Notes: Public policy
  • 5.2 - Additional Notes: Administration of justice
  • 5.3 - Additional Notes: Performance and tender of performance
  • 5.4 - Additional Notes: Damages for breach of contract
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