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Which of the following are elements of a valid contract?

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Commerce WAEC 2011

Which of the following are elements of a valid contract?

  • Dishcarge and performance
  • Offer and acceptance checkmark
  • Age and maturity
  • Promise and capacity

The correct answer is: B

Explanation

Offer and Acceptance. An offer occurs when one party presents something of value that they wish to exchange for something else of value. And the other party must be willing to accept the offer before the contract can be considered valid

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