Elements of a contract are just like ingredients of a soup.

If one of the ingredients is missing or we change the ingredients, we don't have that soup or the taste would be questionable.

The same goes to a contract. We have to fulfill all the elements before our contract is enforceable in the eyes of the law.

Depending on the elements, our contract may be not in existence or void or voidable in the case of non-fulfilment of the elements