What must be done to ensure the validity of a contract?

Study for the Ontario Funeral Services License Exam. Access flashcards and multiple choice questions, each with hints and explanations. Prepare effectively for your exam!

To ensure the validity of a contract, it is essential that both parties involved have a clear understanding of the agreement's terms and that an executed copy is available to all parties. By receiving a copy of the contract, each party can verify that the terms are accurately reflected, which fosters mutual agreement and accountability. This practice not only serves as a record of what was agreed upon but also helps prevent misunderstandings or disputes in the future.

While obtaining a witness signature, making payment in full, and providing valid ID may be important in certain contexts, they are not universally required for a contract to be considered valid. A contract's validity primarily hinges on mutual consent to its terms, an offer, and acceptance, along with lawful consideration. Having a copy of the contract ensures that all parties are informed and can reference the details of their agreement when needed.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy