Which of the Following Is Not Generally Required in Order

question 8

Multiple Choice

Which of the following is not generally required in order to have a valid contract?

• A) Mutual assent
• B) A lawful purpose
• C) Fairness of the bargain
• D) Parties who have contractual capacity

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Definitions:

Common Stock

A type of corporate equity ownership that confers a share in the company's profits and losses, as well as voting rights in corporate decisions.

Voting Shares

Shares of a company's stock that grant the shareholder the right to vote on corporate matters such as the election of the board of directors.

Cash

A form of currency that includes coins and paper notes, which is used by individuals and companies to conduct transactions.

Fair Value

The funds received for unloading an asset or disbursed for handling a liability in a structured marketplace encounter on the date of valuation.