There are only three requirements for a valid contract: it must be a voluntary agreement, at least one of the parties must offer something of value, and the terms of the contract must be stipulated in writing.

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Quizplus · Accepted Answer

There are more requirements for a valid contract, such as mutual assent, capacity to contract, legality of purpose, and consideration (something of value being given by both parties). While some contracts may need to be in writing to be enforceable, not all contracts require a written agreement.

There Are Only Three Requirements for a Valid Contract: It