Which of the following are considered essential elements of a contract?

A contract is an essential legal framework that establishes agreements enforceable by law. The correct answer includes the elements that form the backbone of a legally binding contract: offer, acceptance, consideration, and mutual consent.

• Offer refers to a proposal by one party to enter into an agreement with another. It is the first step in contract formation, indicating a willingness to enter into a contract on specified terms.

• Acceptance is the unequivocal agreement of the other party to the terms of the offer. This acceptance must be communicated and can be expressed verbally, in writing, or through conduct, depending on the nature of the offer.

• Consideration is a crucial element that refers to something of value exchanged between the parties. This can be money, services, goods, or a promise to refrain from an action; it serves as the incentive for parties to enter into the contract.

• Mutual consent signifies that both parties agree to the terms of the contract and intend to be bound by them. This mutual awareness is fundamental to ensuring that both parties understand and accept their responsibilities under the contract.

The other options misidentify or introduce incorrect elements that do not belong in the fundamental structure of a contract. For example, elements like "ple