Contracts usually contain the following:

Question

Quizplus · Accepted Answer

All of the above elements - mutual consent, consideration, capable parties, and legal subject matter - are typically included in contracts in order to make them valid and enforceable. Mutual consent refers to a meeting of the minds between the parties, where they both understand and agree to the terms of the contract. Consideration is the exchange of something of value between the parties, which gives each side a benefit or incurs a detriment. Capable parties are those who have the legal capacity to enter into a contract, meaning they are of legal age, mentally sound, and not under duress or undue influence. Legal subject matter means that the purpose and terms of the contract must comply with the law and not involve illegal activities or be against public policy.

Contracts Usually Contain the Following