False. A contract is not considered valid simply upon creation and sending to another party. For a contract to be legally binding, several elements must be present, including:
- Offer: One party must make a clear offer.
- Acceptance: The other party must accept the offer in a manner that aligns with the terms.
- Consideration: There must be something of value exchanged between the parties.
- Mutual Consent: Both parties must mutually agree to the terms, often referred to as a "meeting of the minds."
- Capacity: Both parties must have the legal capacity to enter into a contract.
- Legality: The contract’s purpose must be lawful.
Additionally, in some cases, an acceptance may need to be communicated back to the offeror for the contract to be valid, and certain contracts may require additional formalities (like being in writing) to be enforceable.