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in studying contract law what were going to have to do is talk about a lot of different aspects and key principles that are required for the creation and the formation of contracts and thats where were going to begin were going to talk about the formation of contracts and specifically in this lesson were talking about the types of contracts that exist along two very broad spectra and we will also get into the details a little bit about what is required of contracts and what other formal requirements that we need to be able to establish legal contractual obligations so for a contract to be concluded in english law we have to have a number of things now for all cases there are three requirements for a contract to exist however in some further cases we do have a fourth we have a fourth requirement and when it comes to the requirements for all contracts we need the following things we need to have an agreement now an agreement exists in two different um as two different parts we need