What is the meaning of Valid?

Well grounded or justifiable, pertinent.

Acceptable, proper or correct; in accordance with the rules.

Related to the current topic, or presented within context, relevant.

Of a formula or system: such that it evaluates to true regardless of the input values.

Of an argument: whose conclusion is always true whenever its premises are true.

Genuine - as distinguished from efficient or regular - sacrament.

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Source: wiktionary.org