Question: The four basic elements required for every valid contract are: ( 1 ) offer and acceptance ( agreement or meeting of the minds ) ;

The four basic elements required for every valid contract are: (1) offer and acceptance (agreement or meeting of the minds); (2) consideration; (3) capacity of the parties to enter into a contract; and (4)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!

Q:

Question 25 4 pts List and briefly describe the four required elements necessary to form a valid contract. Mutual Assent: Broad requirement to be met and form enforceable contract Consideration: Is a...

Q:

This week we have a FULL topic of learning about what makes an agreement an enforceable contract. The contracts checklist includes: 1. Offer and Acceptance 2. Consideration 3. Legality 4. Capacity...

Q:

The common law governs all contracts. True False Question 2 1 Point Contracts for the sale and lease of goods are governed by the UCC to the extent that the UCC has modified general contract law....

Q:

The four basic elements required for every valid contract are: ( 1 ) offer and acceptance ( agreement or meeting of the minds ) ; ( 2 ) consideration; ( 3 ) capacity of the parties to enter into a...

Q:

CASE 1 Ann owns a shop selling prints. She placed an advertisement in the Friday edition of her local paper stating: 'Unique opportunity to own an original Bell print for 500 cash. One only...

Q:

CASE 1 Ann owns a shop selling prints. She placed an advertisement in the Friday edition of her local paper stating: 'Unique opportunity to own an original Bell print for 500 cash. One only...

Q:

Question 1 Lee works for an insurance company, Lee investigates and settles claims made for insurance compensation. Lee is an insurance Not yet answered Marked out of 1.00 Select one: Flag question...

Q:

Oral contracts a. are not legal. b. cannot be enforced in court. c. lack agreement. d. are harder to prove than written contracts. are harder to prove than written contracts An illegal contract...

Q:

Oral contracts a. are not legal. b. cannot be enforced in court. c. lack agreement. d. are harder to prove than written contracts. are harder to prove than written contracts An illegal contract...

Q:

If you look up Section 347 of the Criminal Code, it's the provision about Loan Sharking. People who are desperate to borrow money may sometimes ending up going to criminals or other bad people to...

Q:

Below architectural diagram shows components in a standard SMTP architecture. Imagining that Sender Message Transfer Agent (Client) can connect to multiple MTA servers, what benefit this would bring...

Q:

How did Mendel explain that it is possible that a trait is inherited but not expressed in an organism?

Q:

Alma needs to have surgery, and wants to make sure that the surgeon they choose is the most skilled. According to the text, which question should Alma ask potential surgeons? "Where did you go to...

Q:

Bond X is noncallable and has 20 years to maturity, a 9% annual coupon, and a $1,000 par value. Your required return on Bond X is 12%; if you buy it, you plan to hold it for 5 years. You (and the...