CIPS L4M8 Exam - Topic 9 Question 71 Discussion

Actual exam question for CIPS's L4M8 exam

Question #: 71
Topic #: 9

What is needed for a contract to be binding?

AExplanation:
A contract is written or verbal agreement, made between two or more parties that is legally enforceable. For a contract to be legally binding it must include intention of parties entering into the contracts. All parties must have the capacity to contract or be contracted. They must be of a sound mind, there should be a promise (offer) for performance from the other party and an exchange (consideration) of one thing for another within an agreement for contract to be binding, and there must be an acceptance of the offeror's offer by the offeree.

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by Yun at Apr 06, 2026, 03:12 PM

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2 months ago

I remember that a contract needs an offer and acceptance, but I'm not sure if both parties need to be of the same age to be valid.

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