WAEC - Commerce (2017 - No. 24)
Mr ojo paid Noak the sum of N3,000 for a piece of land without signing a deed of sale. the lement of contract which is lacking is?
valuable consideration
formality
offer and acceptance
capacity
Explanation
Formalities in English law are required in some kinds of transaction by English contract law and trusts law. agreements and trusts will be unenforceable unless they meet a certain form prescribed by statute. The main kinds of formality that a statute can require are to put the transaction in writing, to make a deed, or to register it at a government registrar.
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