Contract Law- What is a legally binding agreement?

In this video, I explain that a contract is a legally binding agreement. I explain that a legally binding agreement is one which is legally enforceable. Two scenarios are included in the video. I explain that the first scenario is an example of an agreement that is not legally binding - not a contract. However, the second scenario is a legally binding agreement because it has the elements needed for an agreement to be recognised as legally binding in English law. Those elements are a legally binding offer, acceptance, consideration and intention to create legal relations. What to watch next: Contract law- What are the elements of a legally binding agreement?   • What is a contract? What elements are...   A playlist which includes different videos which explain different concepts in Contract law    • Contract Law: Unilateral and Bilatera...   Read about Contract law on my blog www.lawwithdenise.com/blog/category/Contract+law