Mr Ojo paid Noak the sum of N3,000 for a piece of land without signing a deed of sale. The element of contract which is lacking is?

A. valuable consideration
B. formality
C. offer and acceptance
D. capacity

Correct Answer: Option B

B. formality

Explanation

Formalities in English law are required in some kinds of transaction by English contract law and trusts law. agreements and trusts will be unenforceable unless they meet a certain form prescribed by statute. The main kinds of formality that a statute can require are to put the transaction in writing, to make a deed, or to register it at a government registrar.