State the six elements of a legal contract
What will be an ideal response?
A valid contract has six elements: a) legal offer; b) legal acceptance; c) consideration; d) genuine assent; e) competent parties; and f) a legal object. When these six elements are present, a legally enforceable contract usually exists.
Business
You might also like to view...
Which of the following required any real estate brokerage partnership?
A. All general partners must be at the brokers B. All officers and directors must be at the brokers C. At least one of the partners must be an active broker D. All partners, officers and directors must be at the brokers
Business
Laboratory experiments, then, are desirable when the intent of the experiment is to achieve high levels of internal validity
Indicate whether the statement is true or false
Business