Stepbystep guide on how to write contracts for leases, business partnerships, and employment contracts. The answer lies in four critical ingredients: an offer, acceptance, consideration, and mutual intent to establish a legal commitment.What is needed for a Contract for Deed? In Illinois, contracts can be verbal or written down. However, the best option is to have a written contract. Determining when written agreements are necessary under Illinois law is crucial to ensure the validity and enforceability of your contracts. Because Contracts for Deed have been abused, there is a law that requires certain things to be in the contract for certain sellers. The logical sequence of these instructions should result in a complete general verdict.