Elements of contract formation:
1. There are two or more parties to the contract subject, and the parties should have corresponding civil capacity;
2. Having the stage of offer and acceptance;
3. The parties must reach consensus on the main terms of the contract;
4. The conclusion of a contract by both parties must be carried out in accordance with law.
The contract is invalid under the following circumstances:
1. The parties to the contract have no contracting capacity;
2. The contract violates the notification provisions of laws and regulations;
3. The contract violates public order and good customs;
4. False declaration of contract intention;
5. The parties colluded maliciously and harmed the legitimate rights and interests of others.
[Legal Basis]
In Article 490 of the Civil Code, if the parties conclude a contract in the form of a contract, the contract is formed when all the parties sign, seal or fingerprint. The contract is formed when one party has performed its main obligations and the other party has accepted them before signing, sealing or fingerprinting.
A contract shall be concluded in writing as required by laws and administrative regulations or as agreed by the parties. A contract is formed when the parties fail to adopt a written form but one party has performed its main obligations and the other party has accepted it.
