What is included in the consideration portion of a valid contract?

In the context of contract law, consideration refers to something of value that is exchanged between the parties involved in a contract. This is essential for a contract to be considered valid and enforceable. Consideration can take various forms, such as money, services, goods, or even a promise to refrain from doing something.

The inclusion of value is crucial as it demonstrates that both parties are providing something in exchange, which is a foundational principle of contracts. Without consideration, a contract may be deemed unenforceable because there is no mutual agreement or exchange, which is necessary for the contract's validity.

The other options, while important in their own right, do not pertain directly to consideration. The ability to sign for an entity involves the authority to engage in a contractual agreement but does not constitute the exchange of value. Legal subject matter refers to the requirement that a contract's purpose must be lawful, and the names of the parties help identify those involved but do not create the element of value essential for consideration. Thus, value stands out as the core component of consideration in a valid contract.