Practice & ContractsQuestion 113 of 120
Which of the following is an essential element of a valid contract?
a.Lawful object and mutual consent
b.Notarization
c.Recording
d.A real estate license
Explanation
A valid contract requires capable parties, mutual consent, lawful object, and sufficient consideration. Notarization and recording are not required for a contract's validity. A purchase agreement missing an essential element may be void or voidable.
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