Which of the following is an ingredient necessary to form a contract?
A) Fairness
B) Assignment
C) Privity
D) Exemption clauses
E) Capacity

Question

Quizplus · Accepted Answer

Capacity is necessary to form a contract. It refers to the legal ability of parties to enter into a contract. Parties must have the mental capacity, age, and legal standing to enter into a contract. The other options are not necessary ingredients to form a contract. Fairness and exemption clauses are related to the terms of a contract. Assignment and privity relate to the rights and obligations of parties under a contract but are not necessary to form a contract.

Which of the Following Is an Ingredient Necessary to Form