WAEC Commerce 1997 Question 97

Question 97

Law of Contract

Mr. Ojo paid Nnamdi the sum of N5,000 for a piece of land without their signing any deed of sale. Which of the following elements of contract is lacking in the transaction?

A.Valuable Consideration
B.Formality
C.Offer and acceptance
D.Capacity
E.Consensus ad idem

Show the answer and explanation

Answer: B (Formality)

Explanation

A sale of land must be in writing (a signed deed); this required form (formality) is missing.