ContractsPregunta 50 de 120
The essential elements of a valid contract generally include offer and acceptance, consideration, legal purpose, and:
a.A recorded deed
b.Competent parties with legal capacity
c.A real estate license held by both parties
d.A government subsidy
Explicación
A valid contract requires competent parties, mutual assent (offer and acceptance), consideration, and a lawful object. Parties must have legal capacity, meaning they are of legal age and sound mind. Missing an essential element can make a contract void or voidable.
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