ESSENTIAL ELEMENTS OF A VALID CONTRACT

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For a contract to be valid, it must have to meet with the following conditions.

  1. There must be an offer
  2. There must be acceptance of the offer.
  3. The parties to a contract must possess capacity to a. contract.
  4. The contract must be lawful.
  5. There must be a consideration in terms of payment or promise to pay.
  6. There must be mutual assent or consent to a contract.
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