An agreement between two or more parties enforceable by law.

An agreement between two or more parties enforceable by law.

• A. Agreement
• B. Consideration
• C. Contract
• D. Legal purpose

Answer: (C)

A contract is a legally enforceable agreement between two or more parties. That means it’s not enough for people to simply agree; the agreement must create obligations that the law will enforce if one side doesn’t perform. For a contract to exist, there’s usually an offer and acceptance, something of value exchanged (consideration), and a lawful purpose, plus the parties must have the capacity to contract and give genuine consent. Because these elements together define an enforceable obligation, this is the best answer. An agreement by itself can be informal and unenforceable; consideration is only one part of the deal; and legal purpose is a requirement for validity but doesn’t by itself define what makes an agreement a contract.

A contract is a legally enforceable agreement between two or more parties. That means it’s not enough for people to simply agree; the agreement must create obligations that the law will enforce if one side doesn’t perform. For a contract to exist, there’s usually an offer and acceptance, something of value exchanged (consideration), and a lawful purpose, plus the parties must have the capacity to contract and give genuine consent. Because these elements together define an enforceable obligation, this is the best answer. An agreement by itself can be informal and unenforceable; consideration is only one part of the deal; and legal purpose is a requirement for validity but doesn’t by itself define what makes an agreement a contract.