Gil found a nearly new engine in his neighbor's garage. He was experienced enough to see that it was in good shape. When he asked the neighbor how much she wanted for it, she said "you can have it if you'll get it out of here by the weekend and clean up the oil and grease around where it was". Gil said, "Okay", even though he knew the engine was worth nearly $1200. Is this a valid contract?

In the context, it is given that Gil found an engine that was lying in his neighbor's garage. Gil asked the neighbor for the engine and also offered money. But his neighbor said to have the engine without any cost but on one condition. The condition is that Gil have to take away the engine by the weekend and also he has to clean the garage where there is oil slipping from the engine. Though the engine worth nearly 1200 dollar, but Gil said he will take the engine by the end of the weekend and will clean the garage for the neighbor. Therefore it is valid contract.

Martebi Martebi · Answer 2 · 2022-01-07T12:14:15+01:00

There are different kinds of contract. This is a valid contract.

Not that the above contract is a a real contract that can be held up in a court of law so therefore, it a valid contract.

There are different basic elements needed for the agreement to be a legally enforceable that is to be a valid contract. They are:

Mutual assent

Adequate consideration

Legality etc.

Learn more about valid contract from

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