Which of the following is NOT considered an element of a valid contract under Mississippi law?

In the context of Mississippi law regarding contracts, a valid contract does not necessarily require a written document signed by both parties to be enforceable. The key elements of a valid contract include mutual assent (an agreement between the parties), consideration (something of value exchanged), and the presence of two or more contracting parties.

The concept of mutual assent refers to the agreement of both parties to the terms of the contract, which can be established through an offer and acceptance. Consideration is crucial, as it represents the value exchanged, which differentiates a contract from a gift. While a written document may enhance clarity and provide evidence should a dispute arise, it is not a mandatory requirement for a contract's validity under Mississippi law. Oral contracts can also be valid and enforceable, provided they meet the necessary legal elements.

Therefore, the absence of a written agreement does not preclude the existence of a valid contract, making the option that requires a written document signed by both parties not a necessary element of a valid contract in Mississippi.