Which of the following is NOT one of the necessary elements of a legal contract?

A legal contract is a binding agreement between parties that must contain specific elements to be enforceable under the law. The necessary elements include competent parties, legal purpose, and consideration.

Competent parties refer to individuals who are legally able to enter into a contract, meaning they must have the mental capacity and legal age to understand the agreement's terms. Legal purpose means that the contract's objective must be lawful and not against public policy. Consideration is the value exchanged between parties, which can be money, services, or a promise to act or refrain from acting.

The notion that a written agreement is a necessary element is not entirely accurate. While many contracts are advisable to be in writing for clarity and to meet certain legal requirements, particularly for significant transactions or agreements that fall under the Statute of Frauds, not all contracts must be written to be enforceable. Oral contracts can also be valid, provided the essential elements are present.

Therefore, the correct answer indicates that a written agreement is not an essential requirement for all legal contracts, distinguishing it from the other three elements that are foundational to the creation of a binding contract.