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What constitutes contract and what constitutes agreement. A valid contract is which of all essential components which present and in which the court would enforce as a legally binding promise.hat constitutes contract and what constitutes agreement. A valid contract is which of all essential components which present and in which the court would enforce as a legally binding promise.
The legal age for entering into a contract in the UK is 7. But between the age of 7 and 17 inclusive you need your parent's consent for the contract to be binding. Posted: Dec 14, 2008 By: deniser Member since: Jun 3, 2008.