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Mr Ojo paid Nnamdi the sum of #3,000 for a piece of land without their…

Mr Ojo paid Nnamdi the sum of #3,000 for a piece of land without their signing any deed of sale. Which of the following elements of contract is lacking in the transaction?
  • A.
    Valuable consideration
  • B.
    Formality
  • C.
    Offer and acceptance
  • D.
    Capacity
  • E.
    Consensus ad idem
Correct Answer: Option B
Explanation