Which of the following is one of the four basic requirements for contract formation and enforcement?
A) A promise must be supported by a signed written document and an advance payment.
B) The parties must have contractual capacity.
C) The object of the contract must be ethical.
D) Both parties to the contract must be at least 21 years old.

Question

Quizplus · Accepted Answer

One of the four basic requirements for contract formation and enforcement is that the parties must have contractual capacity. This means they must be of legal age and mental capacity to enter into a binding agreement. Options A, C and D are incorrect as they are not basic requirements for contract formation and enforcement.

Which of the Following Is One of the Four Basic