Document background
A Consensual Contract is fundamental to business operations in Singapore, used when parties wish to create legally binding obligations through mutual agreement. This document type is particularly relevant when clear terms, conditions, and obligations need to be established between parties. As a contract governed by Singapore law, it must comply with the Contract Law Act 1961 and incorporate elements such as offer, acceptance, consideration, and intention to create legal relations. The document serves as evidence of the parties' agreement and helps prevent future disputes by clearly outlining terms and expectations.
