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What is some types of consideration that is necessary for a vallid contract? |
For a contract to be valid, an agreement must have been reached beforehand between two (or more) counterparties.
The contract will merely seek to record the agreement reached.
The minimum information for a contract to be vaild will be:
1. date of agreement
2. nature of agreement (sale, purchase, exchabge)
3. object of the agreement (the goods)
4. the quantity
5. when the agreement will take place
6. payment (if any)
First answer by ID1358860948. Last edit by ID1358860948. Question popularity: 1 [recommend question].
- Contract (in law)
- consideration
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