A valid agreement in contract law is an enforceable exchange of promises and/ or money between two or more parties. For an agreement to be legally binding, it must include all the essential elements necessary for a contract to come into existence, such as an offer, acceptance, consideration, and mutual assent. Additionally, the agreement must not be illegal, contrary to public policy, impossible in nature, or too vague to be enforced. Valid agreements pave the way for peaceable and orderly commerce to take place – when we can enter into contracts with like-minded individuals without fear of breach we are able to build strong relationships based on trust.