NALA Certified Paralegal Practice Exam

Disable ads (and more) with a membership for a one time $2.99 payment

Prepare to ace the NALA Certified Paralegal Exam with our comprehensive quiz. Engage with multiple-choice questions and enrich your understanding through hints and thorough explanations. Get ready to take your paralegal career to the next level!

Start Multiple Choice Practice Test
Start Flash Cards

Practice this question and more.

The requirements for a valid contract are:

  1. Capacity, fraud, unconscionability, and legality

  2. Acceptance, unconscionability, capacity, and legality

  3. Agreement, consideration, impossibility, and fraud

  4. Agreement, consideration, capacity, and legality

The correct answer is: Agreement, consideration, capacity, and legality

A valid contract requires all of the following - Agreement: Both parties must come to a mutual understanding of the terms and conditions of the contract. - Consideration: Each party must give something of value in exchange for the other party's promise. - Capacity: Both parties must have the legal ability to enter into a contract. - Legality: The contract must be for a lawful purpose and not against public policy. Option A is incorrect because it includes fraud and unconscionability, which are not necessary for a contract to be valid. Fraud and unconscionability may be grounds for voiding a contract, but they do not affect the validity of the contract itself. Option B is incorrect because it includes unconscionability as a requirement, which is not necessary for a valid contract. Option C is incorrect because it does not include capacity as a requirement and includes impossibility, which is

More Questions Like This