Contracts
Which of the following is an essential element of a valid Virginia real estate contract?
AEarnest money deposit
BNotarization
CMutual assent (offer and acceptance)✓ Correct
DAn attorney review period
Explanation
Essential elements of a valid contract include mutual assent (offer and acceptance), consideration, competent parties, legal purpose, and in real estate, must be in writing. Earnest money and notarization are not legally required elements.
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