Essential part of a Valid Contract:
- Capable parties
- Lawful object
- Consideration 
- Offer & acceptance

Capable party 18 years old & sound mind…

Lawful object:
- Enter into with legal purpose 
- To be valid 
- If not, can be void

Consideration:
- Anything of value
- Money or love

Offer:
Must have exactly what was agreed upon
Needs to be accepted

Functional Obsolescence

Freehold Estates

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