Which of the following is NOT a requirement of a legal contract?

A legal contract must meet certain essential criteria to be deemed enforceable. The first requirement is agreement, which includes both an offer made by one party and acceptance by another. This mutual assent signals that the parties involved intend to enter into a binding agreement.

The second essential element is consideration, which refers to something of value that each party agrees to exchange. This could be money, services, or any form of tangible or intangible benefit that motivates both sides to enter the agreement.

Additionally, the purpose of the contract must be legal; any agreement that involves illegal activity is void and unenforceable. Contracts must adhere to laws and regulations to maintain their validity.

The aspect of "availability of substantial discounts" is not a requirement for the formation of a legal contract. While discounts can be a component of business transactions and may form part of an offer, they are not essential criteria for the existence of a contract itself. Without the need for such discounts, the core elements of agreement, consideration, and legal purpose remain intact and sufficient for a valid contract.