Basic elements of a contract must include:
A) legal capacity
B) agreement
C) consideration
D) genuine consent
E) all of the other choices

Question

Quizplus · Accepted Answer

All of the given choices are basic elements of a contract. Legal capacity refers to the ability of the parties involved to enter into a contract. Agreement refers to the offer and acceptance of terms. Consideration refers to the exchange of something of value, such as money or services. Genuine consent refers to the parties entering into the contract without coercion or fraud. All of these elements must be present for a contract to be legally binding.

Basic Elements of a Contract Must Include