Based on article 10 (1) of Cap. 149 – Contract Law in Cyprus, contracts / agreements must have the following elements to be considered valid:
▪︎ Free will / consent of both Parties / capacity to contract;
▪︎ Offer and acceptance;
▪︎ Lawful consideration and lawful object (not being expressly declared by the Law as void);
▪︎ Intention to create legal relations;
▪︎ Certainty of terms;
▪︎ Made orally / in writing / partly orally and partly in writing / inferred by the conduct of the Parties.
The above-mentioned elements are not exhaustive as a Contract must be reviewed carefully with attention to details.
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