A valid contract must have

A valid contract must include both an offer and acceptance, which establishes mutual agreement between the parties involved. Offer refers to one party's proposal to enter into an agreement, while acceptance refers to the other party's agreement to those terms. This mutual consent is critical in contract law as it signifies that both parties understand and agree to the stipulations laid out in the contract. Without this fundamental element, there can be no enforceable contract, as the lack of agreement means the parties have not legally entered into an obligation towards one another.

Regarding the other choices, while a street address might provide clarity about the subject of the contract, it is not essential for the validity of the contract itself. Earnest money, which represents a deposit made to demonstrate commitment, is also not a requirement for a contract to be valid. Similarly, escrow instructions pertain to handling the transaction after the agreement is in place but are not necessary to form the contract itself. Thus, the primary requirement for a valid contract remains the presence of offer and acceptance.