The requirements for a valid contract in California are as follows:
- Mutual Agreement - Both parties must agree to the same terms and conditions of the contract.
- Offer and Acceptance - One party must make an offer, and the other party must accept the offer.
- Consideration - Both parties must exchange something of value, such as money or services.
- Capacity to Contract - Both parties must have the legal capacity to enter into a contract. This means that they must be of legal age and have the mental capacity to understand and agree to the terms of the contract.
- Legality - The contract must be for a legal purpose. Contracts for illegal activities or purposes are not valid.
- Form - While many contracts can be oral agreements, some contracts must be in writing, such as contracts for the sale of real property or contracts that cannot be performed within one year.
It is important to note that there may be certain exceptions and limitations to the above requirements. For example, if one party is under duress or fraudulently induced into entering into the contract, it may be voidable.
If there are any doubts or concerns about the validity of a contract, it is always best to seek the advice of a licensed attorney.
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