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

The correct choice indicates that pricing and payment methods are not a fundamental requirement for the formation of a legal contract. While these elements are often included in contracts, they are not obligatory for the contract to be legally binding.

The essential elements for forming a valid contract typically include an offer, acceptance of that offer, the competency of the parties involved (meaning that the parties are legally able to enter into a contract), and mutual consent to the terms of the contract. These elements establish that there is a clear agreement between the parties and that they have the capacity to agree to the contract's terms.

In contrast, pricing and payment methods are specific details that may vary widely depending on the nature of the agreement. While they can be important for the execution and performance of the contract, the absence of specific pricing or payment arrangements does not inherently invalidate an agreement as long as the key elements of contract formation are present. This understanding highlights why the correct answer identifies pricing and payment methods as non-essential for contract formation.