What is the difference between a contract and a valid contract?
Could you please elaborate on the difference between a contract and a valid contract? What characteristics distinguish these two legal concepts? Are all contracts considered valid by default, or are there specific criteria that need to be met for a contract to be deemed valid? Furthermore, what are the potential consequences of having an invalid contract, and how can parties ensure that their contracts are legally enforceable? It would be helpful if you could provide examples or scenarios to illustrate these differences.