Title: Identify the characteristics of a valid contract.
Course: Principles of Business and Marketing (12051-18) > Section: Making Decisions as a Consumer

Identification should include the following points:

- Valid contracts may be written or unwritten.
- Valid contracts meet four requirements (agreement, competent parties, consideration, and legality).
- Examples of valid contracts include terms and conditions agreements, a lease, a credit card, an employment agreement, an insurance policy, and any purchase agreement.