Which of the following is NOT an element of a contract?

A contract typically consists of several essential elements that must be present for it to be legally enforceable. Among these elements are offer and acceptance, mutual agreement, and consideration.

Offer and acceptance refer to the process where one party proposes terms and the other party agrees to those terms, signifying a mutual understanding of the contract’s terms. Mutual agreement is fundamental as it indicates that both parties are on the same page regarding the obligations and rights that the contract entails. Consideration involves something of value exchanged between the parties, which can be money, services, or goods. This exchange serves as the foundation of the contract, binding the parties to their commitment.

Government approval, however, is not a fundamental element of a contract. While some contracts may require governmental or regulatory approval to be executed, this is not a universal requirement applicable to all contracts. The necessity of government approval is context-dependent and varies based on specific regulations or the nature of the agreement being made. Therefore, it is not a standard component of contract formation, making it the correct answer in identifying what is NOT an element of a contract.