What are some essential elements of a valid contract?

$5\mathrm{.}3.$a$.$ The essential elements of a valid contract are: $(1)$ must provide a mutual assent of two or more parties who are able to contract, $(2)$ an

object orthing that forms the basis of the contract, and $(3)$ consideration or the quid pro quo.

$5\mathrm{.}3.$b$.$ The essential elements of a valid contract are: $(1)$ must provide a profit to both parties to to the contract, $(2)$ must provide for arbitration,

and $(3)$must conform to the Uniform Commercial Code.

$5\mathrm{.}3.$c$.$ The essential elements of a valid contract are: $(1)$ must be in writing, $(2)$ must be signed in ink, and $(3)$ must be for more than $$500.$

$5\mathrm{.}3.$d$.$ The essential elements of a valid contract are: $(1)$ must provide for punitive damages as a remedy for breach, $(2)$ a quantity, and $(3)$ a

price.