3.1. Valid

Try these first

1. 1.

   What are the essential elements of a valid contract?

   Hint

   Think about the acronym 'OACFCL'.

2. 2.

   Define a voidable contract.

   Hint

   Consider the scenarios where only one party feels unfairly treated.

3. 3.

   What is the essential first step in forming a contract?

   • Offer
   • Consideration
   • Acceptance

   Hint

   Think about what you need first to initiate a contract.

4. 4.

   A voidable contract remains valid until annulled. True or False?

   • True
   • False

   Hint

   Consider situations where one party has the right to withdraw.

5. 5.

   A contractor entered an agreement to provide construction services but later discovered crucial details were not included in the contract regarding timelines. Discuss the likely implications and potential outcomes.

   Hint

   Consider how lacking details can affect responsibilities.

6. 6.

   Evaluate the role of capacity in contract formation: How could a party’s incapacity impact the overall validity?

   Hint

   Think about why certain individuals are restricted from making contracts.