What are the elements of an agreement between two parties that will form a contract?
What will be an ideal response?
A contract is an enforceable agreement between competent parties, supported by consideration for a lawful purpose. The elements of a valid contract are: (1) An agreement; an offer and acceptance of the specific original offer; (2) consideration; (3) capacity; and (4) legality of purpose.
You might also like to view...
A(n) __________ is a voir dire challenge for which an attorney states the reason a prospective juror should not be included in the jury
a. Challenge b. Challenge for cause c. Peremptory challenge d. Objection
What rights does the tenant have under the terms of the lease?
What will be an ideal response?
When a person deliberately falsifies the amount of tax due by underreporting his or her income, it is called a
a. tax evasion. b. tax lien. c. tax assessment. d. tax fraud.
Debt that is "backed" by a mortgage, a pledge of collateral, or another lien is called which of the following?
A. Real debt B. Liable debt C. Credited debt D. Secured debt