Question

In: Accounting

Conditions in contracts: Multiple Choice should not be created orally. can be created only by using...

Conditions in contracts:

Multiple Choice

should not be created orally.

can be created only by using special words.

can be impliedly created.

should always occur concurrently.

Expert Solution

Essential Elements of a valid contract

1- Proper offer and proper acceptance with intention to create Legal relationship.

2-Lawful consideration and lawful object

3-Capacity of contract

4- Free Consent

5- Agreement not decrared void or illegal

6- Certainity of meaning

7- Possibility of performance of an agreement

8- Necessary legal formalities.

So, as per given criterai above a contract can be written form or oral and choice of multiplicity is depende on the contract terms & condition.

and creation of contract by special word means, wording of contract always show accurate meaning , if its show multiple meaning then contact are not good and create problem.

Contract are created impliedly AND also contract should always occur in concurrently. A condition concurrent must exist as a fact when both parties to a contract are to perform simultaneously. Neither party has a duty to perform until the other has performed or has tendered performance.

ekkarill92 answered 1 year ago

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