Which of the Following Is Not a Requirement for a Valid

question 37

Multiple Choice

Which of the following is not a requirement for a valid contract?

• A) Mutual agreement
• B) Signatures of the parties
• C) Lawful purpose
• D) Consideration

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Definitions:

Inter Vivos Gift

A gift that is made by a person during his or her lifetime.

Mislaid Property

Items that are intentionally placed somewhere by the owner and then forgotten, differentiating it from lost or abandoned property.

Real Property

Land and anything permanently attached to it, such as buildings and fixtures, which is considered immovable.

Conditional Contract

A contract that becomes enforceable only on the happening or termination of a specified condition.