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What is some types of consideration that is necessary for a vallid contract?
Wiki User
∙ 14y ago
For a contract to be valid, an agreement must have been reached beforehand between two (or more) counterparties. The contract will merely seek to record the agreement reached. The minimum information for a contract to be vaild will be: 1. date of agreement 2. nature of agreement (sale, purchase, exchabge) 3. object of the agreement (the goods) 4. the quantity 5. when the agreement will take place 6. payment (if any)
Wiki User
∙ 14y ago
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