In legal terms, what is necessary for a contract to be enforceable?

A contract must meet specific criteria to be considered enforceable under the law. The correct answer highlights the requirement for mutual assent, legality, and capacity.

Mutual assent refers to the agreement of both parties to the terms of the contract, often manifested through an offer and acceptance. Legality ensures that the contract's subject matter is lawful; contracts that involve illegal activities are not enforceable. Capacity means that the parties entering the contract must have the legal ability to do so, such as being of legal age and sound mind.

While other options outline potential aspects of contracts, they don't capture the fundamental components that ensure enforceability. For instance, a verbal agreement may be binding under some circumstances, but it is often harder to prove compared to a written contract. A written document signed by all parties is certainly a stronger form of evidence but does not guarantee enforceability unless it meets the criteria of mutual assent, legality, and capacity. Similarly, having witnesses present can lend credibility to a contract but is not a necessary requirement for enforceability. Therefore, the comprehensive understanding provided by mutual assent, legality, and capacity is essential for a contract to be deemed enforceable.