Contracts
Which of the following is NOT a required element for a valid real estate contract in Illinois?
AMutual agreement (offer and acceptance)
BConsideration
CNotarization✓ Correct
DCompetent parties
Explanation
Notarization is NOT required for a valid real estate contract in Illinois. The required elements are offer and acceptance (mutual agreement), consideration, competent parties, legal purpose, and in writing with proper identification of the property.
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