Question

The ultimate purpose of a contract is the creation of an agreement that courts will order parties to perform or to pay consequences for the failure of performance. When courts uphold the validity of such promises, the resulting agreement is a(n) ______.

Answer 1

enforceable contract

Step-by-step explanation:

Enforceable contract: It is defined as a legal contract that carries a law behind it but not restricted by law. Generally, refers to a legal agreement between two different parties and is known as legal binding.

The enforceable contract consists of:

1. Acceptance.

2. Offer.

3. Mutuality of obligation.

4. Consideration.

5. Written instrument.

6. Capacity and competency.