Elements of a valid contract.

Based on article 10 (1) of Cap. 149 – Contract Law in Cyprus, contracts / agreements must have the following elements to be considered valid:

▪︎ Free will / consent of both Parties / capacity to contract;
▪︎ Offer and acceptance;
▪︎ Lawful consideration and lawful object (not being expressly declared by the Law as void);
▪︎ Intention to create legal relations;
▪︎ Certainty of terms;
▪︎ Made orally / in writing / partly orally and partly in writing / inferred by the conduct of the Parties.

The above-mentioned elements are not exhaustive as a Contract must be reviewed carefully with attention to details.

Our dedicated Team of professionals would be glad to hear about your case and assist you further. Please feel free to contact us at: info@gclawfirm.eu

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