Essential Requisites to Perfect a Contract

In general, a contract is perfected only when all of the following requisites are present: (1) consent of the contracting parties; (2) object certain which is the subject matter of the contract; and (3) cause of the obligation which is established.

Consent is manifested by the meeting of the offer and the acceptance upon the thing and the cause which are to constitute the contract. The offer must be certain and the acceptance must be absolute. If a party offers a qualified acceptance, the same is considered a counter-offer.

Continue reading here.