What are the 4 requirements of a legally binding contract?

The 4 requirements of a legally binding contract are offer, acceptance, consideration, and capacity. Someone proposes clear terms. The other party accepts them. Each side gives something of value, even one dollar counts. And both have the legal ability to agree, meaning adults of sound mind.

Some lists add a fifth requirement, legality: a contract for something illegal is void no matter how well drafted. Others compress it to three things, offer, acceptance, and consideration, and fold capacity into the fine print.

Notice what is missing: notarization, lawyers, letterhead, and legal jargon. None of those make a contract binding. A one-page agreement in plain English that hits the four elements is enforceable in every US state.

This legally binding contract template is built around exactly those elements.