An agreement becomes a contract when ........

Commercial and Business Laws Law of contract

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An agreement becomes a contract when

These is some consideration for it

Parties are competent to contract

Their consent is free and their object is lawful

All of the above

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Explanation:

- Option 1: An agreement requires consideration to be valid. Consideration refers to a benefit or something of value exchanged between parties, making the agreement binding.

- Option 2: Parties must be competent, meaning they have the legal capacity to enter into a contract. This includes being of sound mind and of legal age.

- Option 3: Consent must be free and the contract's objective must be lawful. This means parties must agree willingly and the contract must not involve illegal activities.

- Option 4: All of the above: A valid contract requires all these elements. Each is necessary for a legal and enforceable agreement.

Answer: Option 4: All of the above.