Questions: Capacity both parties are of legal age Offer clear communication about what is being presented in the contract Consideration Both parties approve the potential gain from the contract. Acceptance placing a signature at the bottom of the contract Legal Purpose The contract must not be for an unlawful purpose.

Capacity both parties are of legal age Offer clear communication about what is being presented in the contract Consideration Both parties approve the potential gain from the contract. Acceptance placing a signature at the bottom of the contract Legal Purpose The contract must not be for an unlawful purpose.
Transcript text: Capacity both parties are of legal age Offer clear communication about what is being presented in the contract Consideration Both parties approve the potential gain from the contract. Acceptance placing a signature at the bottom of the contract Legal Purpose The contract must not be for an unlawful purpose.
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Solution

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Solution Steps

Step 1: Matching Offer

An offer is a clear communication about what is being presented in the contract.

Step 2: Matching Consideration

Consideration means both parties approve the potential gain from the contract.

Step 3: Matching Acceptance

Acceptance is indicated by placing a signature at the bottom of the contract.

Step 4: Matching Legal Purpose

A legal purpose means the contract must not be for an unlawful purpose. Both parties being of legal age also falls under the umbrella of legal purpose, as contracts with minors are not legally enforceable.

Final Answer

Offer: clear communication about what is being presented in the contract

Consideration: Both parties approve the potential gain from the contract.

Acceptance: placing a signature at the bottom of the contract

Legal Purpose: The contract must not be for an unlawful purpose; both parties are of legal age

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