Question

To be valid, a lease must meet the same essential elements as any other contract, which are

A) capacity to contract, legal objectives, and offer and acceptance.
B) capacity to contract and offer and acceptance.
C) legal objectives, offer and acceptance, and consideration.
D) capacity to contract, legal objectives, offer and acceptance, and consideration.

Answer 1

A valid lease must meet the essential elements of a contract, including capacity to contract, legal objectives, offer and acceptance, and consideration.

Step-by-step explanation:

The correct answer is D) capacity to contract, legal objectives, offer and acceptance, and consideration. A valid lease must meet the essential elements of a contract, including capacity to contract, legal objectives, offer and acceptance, and consideration. A lease, like any other contract, must have the capacity to contract, meaning that the parties involved must have legal capacity to enter into the agreement.

The lease must also have legal objectives, which means that the purpose of the lease must be lawful. Offer and acceptance are essential elements of a contract, indicating that there was a clear offer made by one party and it was accepted by the other party. Lastly, consideration must be present in the lease, which refers to the exchange of something of value (such as rent payment) between the parties involved.