The key principle that ensures each party signing the contract has the required authority to enter into the contract is Legal capacity. This principle refers to the ability of the parties involved to understand and agree to the terms of the contract, which includes being of legal age and sound mind.
Sally and Kimberly are creating a contract to work together to plan and host an event. What key
principle ensures each party signing the contract has the required authority to enter into the
contract?
(1 point)
○ Legal purpose
○ Offer and acceptance
○ Legal capacity
○ Exchange of value
1 answer
1 answer