[header] How to negotiate contracts [title] Know the required elements of a valid contract. [step] All contracts should contain the same basic elements. Although these elements can be negotiated to some degree, your contract should thoroughly address each element. 
These required elements include : [substeps] Mutual assent refers to the agreement of the parties as to all contract provisions. Consideration is a benefit or detriment to one party, exchanged for the other party's promise to do something.