'The law holds that before any simple contract [including a contract of employment and a contract for services] is enforceable it must be formed so as to contain various elements. These are:
- There must be an "intention" between the parties to create a legal relationship, the terms of which are enforceable.
- There must be an offer by one party and its acceptance by the other.
- The contract must be supported by valuable consideration.
- The parties must be legally capable of making a contract.
- The parties must genuinely consent to the terms of the contract.
- The contract must not be entered into for any purpose which is illegal.'[1]
The contract is to be interpreted objectively according to its terms and not on the basis of the subjective beliefs of the parties.[2]