According to Contract Act (1950), there are seven (7) essential elements to the creation of a valid contract. Discuss any FIVE (5) elements of contract in construction contracts below: i) Offer and Acceptance ii) Intention to create legal relation iii) Consideration iv) Certainty of terms v) Capacity vi) Free consent

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Types of Contracts

A verbal or written agreement between a person and a firm, for undertaking construction, material supply, maintenance, and repair work which is enforceable by law is termed as a contract. The person who undertakes the contract for execution of the work is termed as a contractor. The contracts are classified into different types depending on the nature of the contract.