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Add to cartWhat is the first requirement of a contract?
The first requirement of a contract is a meeting of minds.
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Define a meeting of minds in a contract.
A meeting of minds refers to the agreement between the parties involved in a contract, where they agree on all points.
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Can a meeting of minds be explicit or implicit?
Yes, a meeting of minds can be explicit or implicit.
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Give an example of an explicit meeting of minds.
An example of an explicit meeting of minds is signing a written contract, such as when you buy a car and sign a contract.
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Provide an example of an implicit meeting of minds.
An example of an implicit meeting of minds is when you go to a store, pick up a product, and take it to the register to pay without any words being spoken.
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What is the second requirement of a contract?
The second requirement of a contract is that the matter of the contract must be legal.
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What does it mean for a contract to be legal?
For a contract to be legal, its content must not break any laws.
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Can a contract be considered legal if its content breaks any laws?
No, a contract cannot be considered legal if its content breaks any laws.
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32 questions
Nederlands
07-12-2023
Secondary Education / International High School / Finance