Seven essential elements must be present before a ____________ is binding: the offer, acceptance, mutual assent, consideration, capacity, and legalitya.budgetb.termsc.agreementd.contract

What is an essential element of a legally binding contract?*A) Handwritten signaturesB) ConsiderationC) A notarized stampD) Verbal agreement

Outline the essentials of a legally binding contract with the aid of clear examples.

Consideration, an essential element in the formation of a valid contract, may be identified as:

Consideration, an essential element in the formation of a valid contract, may be identified as:Question 11AnswerA.The need for fairness in the contract.B.The intention of the parties to be legally bound.C.A balance in the terms of the agreementD.The 'bargain' element of a contract.

Which one of the following elements is not necessary for a contract?Question 4Answera.  Competent partiesb.Lawful concentration.c.Reasonable terms and conditionsd.Free consentClear my choice