A comprehensive SQE overview of the essential elements required to form a binding contract, focusing heavily on offer and acceptance, consideration, intention to create legal relations, certainty, and capacity. The texts explain that a contract requires an agreement (a clear offer and corresponding acceptance), a mutual exchange of value (consideration), and a presumption that the agreement will have legal consequences (intention to create legal relations). Furthermore, the sources detail how offers can be unilateral or bilateral, distinguishing a true offer from an invitation to treat in various contexts like advertisements and auctions, and outlining rules for revocation and rejection. Finally, the materials discuss the critical requirements of clear and complete terms (certainty) and the necessary legal power of the parties to enter agreements, particularly concerning minors and corporations.