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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.
An unconscionable contract is not the same as an illegal contract. An illegal contract is one that is against the law because the subject matter of the contract is illegal.An example of this is a contract that seeks to address illegal gambling matters.n unconscionable contract is not the same as an illegal contract. An illegal contract is one that is against the law because the subject matter of the contract is illegal.