Which of the following are key components of a contract?

The key components of a contract include the elements of offer, acceptance, consideration, intention, and capacity.

An offer is a clear proposal made by one party to another, indicating a willingness to enter into a contract on specific terms. Acceptance is the unqualified agreement to the terms of the offer. Consideration refers to something of value that is exchanged between the parties, which is essential for a contract to be binding. Intention indicates that both parties intend to create a legal relationship and be bound by the contract. Capacity involves the legal ability of the parties to enter into a contract, meaning that they must be of legal age and sound mind.

This comprehensive understanding of contract elements ensures that a binding agreement is formed that can be enforced by law. The other options mentioned specific components, but they either included irrelevant aspects or omitted critical elements necessary for a contract to be valid.