Which element of the contract best describes the legal ability to enter into a binding agreement?

Which element of the contract best describes the legal ability to enter into a binding agreement?


Contractual capacity




Acceptance




Consideration




Legal object


Answer

Contractual capacity

Which element of the contract consists of the bargained-for exchange or what each party gets in exchange for his or her promise under the contract?

Which element of the contract consists of the bargained-for exchange or what each party gets in exchange for his or her promise under the contract?




Contractual capacity




Agreement


Consideration




Legal object


Answer

Consideration