Which of these is a condition of a valid contract?

The correct answer, stating that written documentation is a condition of a valid contract, reflects a common legal requirement though it is important to note that not all contracts must be in writing to be enforceable. In general, contracts can be valid if they meet essential elements, including an offer, acceptance, consideration, and a mutual understanding. However, certain types of contracts, such as those involving real estate, must indeed be in writing to be enforceable under the Statute of Frauds. This highlights that while oral contracts can be valid, having a written contract often serves to clarify terms and provide evidence of the agreement, thus reducing disputes.

In this context, other options do not fulfill the fundamental legal requirements needed for a contract to be considered valid. Mutual understanding is crucial as it underpins the agreement but does not encompass the legal requirements necessary for enforceability. Mutual fear of lost profits does not constitute a valid condition for a contract, as contracts are based on mutual assent and not coercive emotions. Lastly, a forced agreement goes against the principle of voluntary consent that is vital to the validity of any contract; a contract entered into under duress is not legally binding.