Question

Lack of Genuine _____________ is when the contract was never formed because parties did not enter into it ______________ and on their own accord

Option 1: Intent
Option 2: Assent
Option 3: Consent
Option 4: Offer

Answer 1

The term 2)'Assent' fits the scenario where a contract is not valid due to parties not voluntarily agreeing to it. Genuine assent is required for a contract to be legally binding.

Step-by-step explanation:

The statement 'Lack of Genuine Assent is when the contract was never formed because parties did not enter into it voluntarily and on their own accord' best fits the scenario described. A contract is a binding legal agreement which requires genuine assent from all parties involved.

Meaning that they must agree to the terms knowingly and without coercion. If one party is misled, forced, or pressured into entering the contract, or if there is a mistake or fraud involved, then genuine assent is lacking, and the contract may be void or voidable.

In the context of the options provided, option 2: Assent is the correct term to complete the sentence, reflecting that all parties must truly agree to the contract terms for the agreement to be legally binding.