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Thursday, 21 November 2019
Agent Resource Center
Agent Resource Center

Question – All of the following are essential for a valid contract except:

Written by Posted On Thursday, 07 November 2019 05:00

(A) Capacity of parties
(B) Legal object
(C) Meeting of the minds
(D) Payment of money

 

Answer:  (D)  Payment of money is not essential to the validity of a contract. The consideration may be a promise, performance of an act, OR the payment of money.

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