Question: Which elements are required to form a valid contract? legal purpose and legal capacity agreement ( aka mutual assent ) consideration all the answer choices

Which elements are required to form a valid contract?
legal purpose and legal capacity
agreement (aka mutual assent)
consideration
all the answer choices are correct.
Which elements are required to form a valid contract? legal purpose

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:

Briefly discuss the three leading approaches to determining the disposition of a pre-embryo upon divorce, as discussed by the Connecticut Supreme Court in Bilbao v. Goodwin : (1) the contractual...

Q:

QUESTION 13 The legal authority of a court to decide a specific case is A.Judicial review B.Substantive C.Jurisdiction D.Preemption QUESTION 14 All of the following are necessary elements of every...

Q:

Under the Comprehensive Environmental Response, Compensation and Liability Act, liability for the release of a hazardous substance on an owner's property is placed on the Group of answer choices the...

Q:

Identify each and every element required to form a valid contract: Group of answer choices All of the above. Legality ( the purpose of the contract must be legal at the time of execution ) Capacity...

Q:

Which of the following is required to have a valid contract? Group of answer choices legal purpose all of these consideration mutual agreement

Q:

business law questions 1. A contract a. can never be implied from the actions of the parties b. must contain consideration c.cannot be terminated d. none of these 2. A contract should include a. the...

Q:

ART ONE-The Required Element of Real Assent The element of Real Assent is missing in each of the following situations: (a) When one party places the other under physical duress or duress by threat,...

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:

1.The greatest bundle of rights one can own in real property is known as a fee simple absolute. True or False 2.The document pursuant to which one becomes an owner of real property is known as a...

Q:

QUESTION 39 Lacrisha offers to service Margi's home alarm system for one year for $500. Under the mirror image rule, Margi's response will be an acceptance if the terms of the acceptance 0 a. change...

Q:

On January 1, 2016, Johnson Corporation issued a 2 year note due December 31, 2017, with a face value of $10,000, receiving $7,694.68 in exchange. Required: Prepare the journal entries to account for...

Q:

On December 31, 2020, Parent company (A) acquired 80% of Subsidiary (B) outstanding common stocks for SR 368,000, Subsidiary's fair value of net asserts was SR 460,000. During 2021, subsidiary net...

Q:

Pure risk always exists when the possibility of a loss is present but the possible extent of the loss is unknown. true false

Q:

-/1 View Policies Current Attempt in Progress The following amortization and interest schedule reflects the issuance of 10-year bonds by Bridgeport Corporation on January 1, 2014, and the subsequent...