Question

Describe any six essential elements of Valid Contract.

Answer 1

Answer:

Sorry nahi pata hai........

Answer 2

A legal contract is basically a formal agreement between two parties which officially validates any proposal or offer which involves both the parties.

Explanation:

Elements of valid contract:-

• In order to be officially valid,a contract has to be specific,relevant to the concerned proposal/offer,clearly constructed and complete so that the contract is absolutely devoid of any ambiguity,confusion and complexity and thoroughly understood by the concerned parties.
• The contract should be legal,formal,acknowledged and formally signed by both parties which reflects the intention of making it a legal agreement.
• Both the parties should have thorough and proper understanding of the contract before it can be legally validated.In other words,they should know and clearly understand the reasons and repercussions of the contract or the agreement.
• Both parties should have free and independent approval of the contract or agreement meaning that they have to abide by the rules of contract based on free will and not under any kind of direct or indirect provocation or influence.
• Any legal formalities or regulations associated with validating the contract must be strictly followed by both parties such official signature of the concerned parties,printing of the contract,formal approval/stamp or signature of any legal or superior authority and so forth.
• The legal validation of any contract also requires legitimate or lawful recognition or acknowledgment from all parties concerned with the legalization of the contract.Any concealment of the contract from any entity concern in any capacity might lead to nullification or revocation of the contract terms.