Final answer:
The payment of rent by a tenant to a landlord satisfies the element of Consideration in a lease contract, representing something of value being exchanged between the contracting parties. Option b is the correct answer.
Step-by-step explanation:
When a tenant pays rent to a landlord, the tenant is satisfying the element of Consideration in a valid lease contract. Consideration refers to something of value that is exchanged between the parties of a contract.
In the context of a lease agreement, the tenant's rent payment represents the consideration provided in exchange for the right to use and occupy the property as stipulated by the agreement.
Therefore, the payment of rent by the tenant does not represent Acceptance, Legal Capacity, or Mutual Assent, as these are other elements required for a valid contract.
Acceptance is the agreement to the terms of the contract, Legal Capacity refers to the ability of the parties to enter into a contract, and Mutual Assent means that both parties have a common understanding of the terms of the contract.