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?

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

waec 1997 commerce

The correct answer is B. Formality

No explanation given

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