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Agent Resource Center
Agent Resource Center

Question – All of the following are essential elements of a simple contract except:

Posted On Tuesday, 10 September 2019 05:00

((A) Proper writing
(B) Competent parties
(C) Legal object
(D) Mutual assent


Answer:  (A)  The four essential elements of a simple contract are consideration, competent parties, a lawful object and mutual assent. The Statute of Frauds requires that only certain contracts must be in writing to be enforceable in court, not all.

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