A valid contract is usually defined as an agreement made by two or more parties which creates:

Question

Quizplus · Accepted Answer

A valid contract creates rights and obligations that are legally enforceable, meaning that they can be enforced by law if one of the parties breaches the terms of the agreement. The agreement does not necessarily need to be in writing to be legally enforceable, as verbal contracts can also be valid. However, having a written agreement can provide stronger evidence of the terms of the contract. Choice B is not correct because the requirement for a contract to be in writing depends on the specific type of contract and the laws in the jurisdiction where it is being formed. Choices C and D are not correct as they do not accurately describe the nature of a valid contract.

A Valid Contract Is Usually Defined as an Agreement Made