Here are brief explanations of each of the four factors for a valid contract. Which one of the following include wrong information on the factor?

An offer and an acceptance - A valid contract requires an offer and an acceptance between the parties involved. Only buyer can make the offer to supplier to enter into a contract, and the acceptance is always made by the supplier. The offer and acceptance must be clear, definite, and unambiguous to create a binding contract.

Consideration (bargained-for exchange) - A valid contract requires that both parties exchange something of value as part of the agreement. This is known as consideration, and it can be in the form of money, goods, services, or promises to do something in the future. Consideration is necessary to create a mutual obligation between the parties involved, and to ensure that each party receives something of value as part of the contract.

Competent parties - A valid contract requires that the parties involved in the agreement are competent to enter into a legal contract. This means that the parties must have the legal capacity to enter into the contract, and must not be under duress, coercion, or undue influence. In addition, the parties must either be principals or qualified agents who have the authority to enter into a contract on behalf of their principal.

Legal subject matter or purpose - A valid contract requires that the subject matter or purpose of the contract is legal. Contracts that involve illegal activities, such as fraud or theft, are not enforceable in court. Similarly, contracts that violate public policy, such as contracts that are harmful to society or promote immoral activities, are also not valid.