Hey Jared hope those 3 elements are the basic 3 elements for a simple contract. There are really 6.
Essential Elements of a simple contract [With these present, an apparent contract is said to exist]
1. Intention to create legal relations 2. Agreement 3. Consideration
1. Intention – the parties must intend that their promises create legally enforceable obligations
2. Agreement – An offer by one party and an acceptance by another
3. Consideration – Something of value passing from one party to another in return for a promise to do something, unless the agreement is made under seal, in which case consideration is not necessary
Essential elements to be satisfied to determine validity: If the following elements are satisfied, then the apparent simple contract that was created above is valid.
4. Legal Capacity – the parties must be legally capable of entering into a contractual relationship
5. Consent – the contract must be a genuine expression of the intentions of the parties
6. Legality of objects– the objects or the purpose of the contract must be legal
7. Form – The form the contract needs to be in. E.g. any statutory requirements which must be satisfied
Legality of objects/form can go together
they are your 6 essential elements