Which element is NOT part of a valid lease?

A valid lease generally requires several key elements, one of which is the specification of a rental price. Having a specific rental price helps establish the terms of the agreement between the landlord and the tenant, making it clear what the tenant is obligated to pay for the use of the property. However, in practice, while a lease can be valid without an explicitly stated rental price, it must still involve all other elements.

Legally competent parties ensured that both the landlord and tenant are legally capable of entering into a contract. Mutual agreement reflects the need for both parties to agree on the terms of the lease, and a lawful objective indicates that the purpose of the lease must comply with the law. It is this combination of elements that typically constitutes a legal lease, even if the price can be implied or determined by the context or custom in some cases.