Which of the following is NOT one of the four essential elements of a contract?

The correct answer is that written documentation is not one of the four essential elements of a contract. The four essential elements of a legally enforceable contract are capable parties, lawful objective, mutual consent, and consideration.

Capable parties refer to individuals or entities that have the legal capacity to enter into a contract, meaning they are of legal age and sound mind. A lawful objective means that the contract must pertain to a purpose that is legal and not contrary to public policy. Mutual consent indicates that both parties involved must agree on the terms of the contract, demonstrating a meeting of the minds.

While having a written document is often advisable and sometimes required for certain types of contracts, many oral contracts can be enforceable as long as they meet the four essential elements. Thus, while documentation is important in practice, it is not a fundamental element necessary for the validity of a contract itself.