MEIKTILA UNIVERSITY

DEPARTMENT
OF
LAW
MBA PROGRAMME

Assignment
for
Legal Framework for Business

MBA- 114
The Essential Elements of a Valid Contract
Under Section 10 of the Myanmar Contract Act, “All agreements are contracts if they
are made by the free consent of parties, competent to contract, for lawful consideration and
with a lawful object, and are not here by expressly declared to be void.
The following are the essential elements of a valid contract:
1. Proposal or offer and acceptance of such proposal or other
2. The parties must be competent to contract (Section 11)
3. Free consent of the contracting parties (Section 13 to 22)
4. Lawful consideration and with a lawful object (Section 23)
5. The agreement must not be expressly declares to be void (Section 20, 26 to 30 and 56)
6. In writing if so required by law.

1. Offer and Acceptance

Offer or Proposal

“Nothing here in contained shall affect any law in force in the Union of Myanmar, by
which any contract is required to be made in writing or in the present of witnesses, or any law
relating to the registration of documents” (Section 10 of the Myanmar Contract Act)