Which of the following is a requirement for the enforcement of a business contract?

For a business contract to be enforceable, several fundamental requirements must be met, and all the elements mentioned—legality of subject matter, agreement by both parties, and consideration—are essential.

Legality of subject matter refers to the requirement that the contract's purpose and terms must be lawful. A contract that involves illegal activities or violates public policy is void and unenforceable.

Agreement by both parties, also known as mutual assent, is crucial for a contract. This means that both parties must understand and agree to the terms of the contract. This is typically manifested through an offer by one party and acceptance by the other.

Consideration involves something of value that is exchanged between the parties. It can be a promise, an act, or a forbearance. Without consideration, there is no incentive for either party to fulfill their contractual obligations, making the contract non-binding.

Since all of these components are necessary to form a valid and enforceable contract, the correct answer is that all of the above factors must be present.