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There must be at least _____ parties in a contract.
- a)three or more
- b)two or more
- c)two
- d)four or more
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
There must be at least _____ parties in a contract.a)three or moreb)tw...
The correct answer is option 'C' i.e. two. Let's understand this in detail:
Parties in a Contract:
A contract is an agreement between two or more parties that creates legal obligations between them. The parties involved in a contract can be individuals, businesses, organizations, or even governments.
Minimum Parties in a Contract:
According to the basic principle of contract law, a contract can be formed when there is an offer, acceptance, and consideration between two or more parties. Therefore, a contract can be formed between two parties, and it is not necessary to have more than two parties to form a contract.
For example, if A offers to sell his car to B for a certain amount, and B accepts the offer by agreeing to pay the amount, then a contract is formed between A and B. Here, A and B are the only parties involved in the contract.
Conclusion:
Hence, the minimum number of parties required to form a contract is two.
Parties in a Contract:
A contract is an agreement between two or more parties that creates legal obligations between them. The parties involved in a contract can be individuals, businesses, organizations, or even governments.
Minimum Parties in a Contract:
According to the basic principle of contract law, a contract can be formed when there is an offer, acceptance, and consideration between two or more parties. Therefore, a contract can be formed between two parties, and it is not necessary to have more than two parties to form a contract.
For example, if A offers to sell his car to B for a certain amount, and B accepts the offer by agreeing to pay the amount, then a contract is formed between A and B. Here, A and B are the only parties involved in the contract.
Conclusion:
Hence, the minimum number of parties required to form a contract is two.
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There must be at least _____ parties in a contract.a)three or moreb)tw...
Because contract done between offeror and offeree,so at least two parties
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There must be at least _____ parties in a contract.a)three or moreb)two or morec)twod)four or moreCorrect answer is option 'C'. Can you explain this answer?
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