What four elements are necessary for an enforceable contract under Texas law?

For a contract to be enforceable under Texas law, it must include four essential elements: offer, acceptance, consideration, and capacity.

An offer is a clear proposal made by one party to another indicating the intention to enter into a contract. Acceptance refers to the agreement of the other party to the terms of the offer, showing mutual assent. Consideration is a fundamental component that refers to something of value exchanged between the parties, which can be money, services, or other forms of value. This element is critical because without consideration, there is typically no enforceable contract. Finally, capacity involves the legal ability of the parties to enter into a contract, meaning that they must be of sound mind, of legal age, and not under duress or incapacitated.

This option reflects the core requirements for a valid and enforceable contract in Texas and aligns with established contract law principles. Other options, while they may include relevant concepts, do not accurately encompass the essential elements required for enforceability as recognized in Texas contract law. For example, terms like "notarization" and "documentation" might be relevant in certain contexts but are not foundational requirements for contract validity, and "revenue" is not a recognized element in contract formation.