What is one of the requirements for a valid escrow agreement?

A valid escrow agreement requires written consent from all parties involved because this establishes clear, documented consent and understanding of the terms and conditions surrounding the escrow arrangement. Written consent helps prevent disputes and provides a legal framework that outlines the responsibilities and rights of each party. It ensures that all parties acknowledge their agreement to the terms, facilitating a smoother transaction process. Without written consent, an escrow agreement may lack enforceability and clarity, making it difficult to resolve any potential disagreements that could arise.

In contrast, the other options do not meet the necessary criteria for a valid escrow agreement, as they either lack the required formalities or do not address the need for mutual agreement among the parties involved.