An agreement between two adults to pay $300 cash for a bicycle is an example of a contract that is
A) valid.
B) void.
C) voidable.
D) unenforceable.

Question

Quizplus · Accepted Answer

A) The contract is valid because it has all the necessary elements of a contract
(mutual assent, capacity to contract, consideration, legal purpose).
B) The contract is valid because it has all the necessary elements of a contract (mutual assent, capacity to contract, consideration, legal purpose).
C) The contract is valid because it has all the necessary elements of a contract (mutual assent, capacity to contract, consideration, legal purpose).
D) The contract is valid because it has all the necessary elements of a contract (mutual assent, capacity to contract, consideration, legal purpose).

An Agreement Between Two Adults to Pay $300 Cash for a Bicycle