Which of the following is a characteristic of a valid contract?
A) A valid contract cannot contain promises.
B) The parties must have the contract's terms approved by the appropriate court for it to be valid.
C) A court will enforce a contract if a party does not voluntarily perform.
D) There need not be mutual assent by all the parties involved in a contract.

Question

Quizplus · Accepted Answer

A valid contract must have mutual assent between the parties, meaning that all parties involved must have agreed to the terms and conditions of the contract. Additionally, the contract must have consideration, meaning that each party must be giving or promising something of value to the other party. Finally, the purpose of the contract must be legal and not against public policy. If all of these criteria are met, the contract is considered valid and a court will enforce it if necessary. However, the approval of a court is not necessary for a contract to be valid.

Which of the Following Is a Characteristic of a Valid