A legally binding contract must include an offer, acceptance, consideration, and intent to create legal relations. No, it can be implied.If the acceptance is shown through conduct, the same would be considered as a valid acceptance. In Illinois, the elements necessary for a valid contract are: • An offer. Offer and acceptance are integral for contract formation. Without valid offer and acceptance, there is no legally enforceable agreement. The requirement of offer and acceptance applies to each of the major elements of the transaction, which typically include identity of the property and price. A breach of contract occurs when the terms of that agreement are not followed. Before you can bring a breach of contract claim, a valid contract must exist. Understand the risks of signing a contract without reading.