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WAEC Commerce 2000 Question 46

Question 46

Law of Contract

Which of the following is a basic requirement for a valid contract?

  1. A.Representation
  2. B.Consideration
  3. C.Interest
  4. D.Performance
Show the answer and explanation

Answer: B (Consideration)

Explanation

A valid simple contract needs offer, acceptance, consideration, capacity, intention and legality.