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In Ghana, a valid contract must meet certain criteria as outlined in the Contracts Act, 1960 (Act 25). It requires an offer and acceptance, mutual consent, consideration, legal capacity of the parties, and a lawful object. Additionally, the terms of the contract should not contravene any statutory provisions or public policy. If these elements are satisfied, the contract is considered valid and enforceable.
What else can I help you with?
What are the examples of essentialia of a contract?
valid contract
If an item line of a contract is changed and not initialed by both party's is it still a valid contract?
No. It is no longer valid.
How can misrepresentation affect a valid contract?
When someone is induced into entering into a contract as a result of a false statement.
Is money lending a valid contract?
It depends on the contract If you are borrowing from a bank or other valid institution I will guaranty the contract will be valid and enforceable. If you are borrowing from your local loan shark, the "contract" may not be valid, but do you want to take the chance?
What are the requirements for a valid contract?
For a contract to be valid, it must include an offer, acceptance, consideration, legal capacity, and legal purpose.
If the signatories to a contract change is the original contract still valid?
The contract technically isn't valid if the name has changed. You should resign a contract if you would like to continue the business relationship.
What is valid contarct?
A valid contract is an agreement enforceable by law. A Valid Contract is defined under Sec 2(h) of the Indian Contract Act, of 1872. To know the essential features of forming a valid contract, please refer to Desire 4 Legal Knowledge
Is viodable contract is a type of valid contract?
Yes: It is a valid contract in the beginning but subsequently it changes into voidable contract due to some uncertain reasons. For example; A person do contract to B person that he will give some garments importing from London and the B accepts it, after it in the way some thing happen and the product is destroyed then a valid contract will be change in a voidable contract.
If you signed a contract while you were stoned and you can prove you were incapacitated is that contract valid?
No
Is a contract valid after termination of that contract?
No, but the exclusion clauses under it may still be
What are the component parts of an offer?
An offer is a component part of a contract. There are three steps in creating a valid contract: the offer, the acceptance of the offer and an exchange of consideration.An offer is a component part of a contract. There are three steps in creating a valid contract: the offer, the acceptance of the offer and an exchange of consideration.An offer is a component part of a contract. There are three steps in creating a valid contract: the offer, the acceptance of the offer and an exchange of consideration.An offer is a component part of a contract. There are three steps in creating a valid contract: the offer, the acceptance of the offer and an exchange of consideration.
What type of contract requires a law to be broken?
It would not be a valid contract. A contract to break the law is illegal.
