What characteristic is essential for a contract to be enforceable, along with competence?

For a contract to be enforceable, having a legal purpose is a fundamental requirement. This means that the agreement must be for a lawful objective and not violate any laws or public policy. If a contract involves an illegal activity or goes against legal statutes, it cannot be enforced in a court of law. Therefore, the presence of a legal purpose ensures that the terms of the contract align with recognized legal standards, making it valid and enforceable.

Competence, which refers to the parties involved being of sound mind and legal age to enter into a contract, is necessary to ensure that all parties understand the agreement they are making. However, without a legal purpose, even competent parties cannot create a binding contract. Thus, legal purpose complements competence to form the basis of an enforceable contract.

Other characteristics, such as written documentation or mutual benefit, may strengthen a contract or provide clarity, but they are not universally required for enforceability. Additionally, party representation is essential in certain contexts, especially in legal or complex agreements, but does not address the core need for the contract's purpose to be legal.