What is required for a contract to be considered valid?

For a contract to be considered valid, it must include several key elements. The correct choice outlines the components necessary for a contract's validity: offer and acceptance, consideration, and legality.

An offer is a proposal by one party to enter into a contract, while acceptance is the agreement of the other party to that proposal. Consideration refers to something of value that is exchanged between the parties, which is an essential requirement because it demonstrates that both parties are entering the contract willingly and are bound by their commitments. Lastly, legality ensures that the subject matter of the contract is lawful. If any aspect of the contract is illegal, it cannot be enforced.

Other options mentioned various considerations for contracts, but they either included unnecessary components like registration or notarization, which are not fundamental to the validity of a contract under general contract law. Additionally, while witness signatures may be important in certain situations, they are not universally required for all contracts to be valid.