Which of the following is not an essential of a contract?

Assessment: WAEC SSCE - Commerce - 1990 (Objective) Subject: Commerce

Question 1 Report

Which of the following is not an essential of a contract?
Answer Details
"All contracts written out" is not an essential of a contract. Contracts can be either written or verbal and both are legally binding, as long as they fulfill the other essential elements of a contract. However, some contracts are required to be in writing by law, such as contracts involving the sale of land or contracts that cannot be performed within one year.
Read lesson note on Legal Aspect Of Business (WAEC)
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