Final answer:
In order for a contract to be valid, it must contain an offer, acceptance, and consideration.
Step-by-step explanation:
In order for a contract to be valid, it must contain an offer, acceptance, and consideration. These elements are essential to create a legally binding agreement between parties. A valid contract does not require it to be made by a writing signed by adults or to be fully performed on both sides. Filing a contract is not a requirement for its validity.