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What constitutes contract and what constitutes agreement. A valid contract is which of all essential components which present and in which the court would enforce as a legally binding promise.hat constitutes contract and what constitutes agreement. A valid contract is which of all essential components which present and in which the court would enforce as a legally binding promise.
The Contracts Act 1999 is an Act of the Parliament of the United Kingdom that significantly reformed the common law Doctrine of Privity and thereby one of the most universally disliked and criticised blots on the legal landscape. The second rule of the Doctrine of Privity, that a third party could not enforce a contract for which he had not provided consideration, had been widely criticised by lawyers, academics and members of the judiciary. Proposals for reform via an Act of Parliament were f