Which term indicates a contract that has met all legal requirements for enforceability?

A valid contract is a term that signifies a contract has satisfied all legal requirements necessary for enforceability. This means that the contract has specific components, such as mutual agreement, consideration, competent parties, and a lawful object. When a contract is labeled as valid, it indicates that not only has it been properly formed but also that it holds up in court if either party were to dispute its enforceability.

In contrast, an executed contract refers to one that has been fully performed by all parties involved, while an implied contract arises from the behavior of the parties and their intentions rather than from explicit written or spoken terms. A unilateral contract is a type of agreement where one party makes a promise in exchange for the performance of an act by another party, but this does not inherently meet the legal requirements for enforceability on its own. Thus, the character of a valid contract is distinct and stands out as it fulfills the necessary legal conditions to be recognized and enforced by law.