A contract comes into being from the acceptance of an offer. When the person to whom the offer is made signifies his assent thereto, the proposal is said to be accepted and the parties are at consensus ad idem regarding the terms of the agreement.

Considering is something that moves from the promise to the promisor, at the implied or express request of the latter, in return for his promise. The item that moves can be a right, interest, profit, loss, responsibility, given or suffered, forbearance or a benefit which i of some value in the eyes of law.

Contractual rights and liabilities are exclusive to the parties to contract. There are few exceptions to the doctrine of privity of contract like agency, trust, assignment and third party beneficiary. A quasi-contract is a contract that is created by the court when no such official contract exists between the parties to prevent a party from being unjustly enriched, or from benefitting from the situation when he does not deserve to do so.