What does the acronym CALL stand for in relation to the requirements of an enforceable contract?

The acronym CALL stands for Competent Parties, Agreement, Legal Consideration, and Legal Purpose, which outlines the essential elements that must be present for an enforceable contract.

Competent Parties refers to the requirement that all individuals involved in the contract have the legal capacity to enter into an agreement, meaning they are of legal age and sound mind. An Agreement indicates that there is mutual consent between the parties, typically evidenced through an offer and acceptance. Legal Consideration is a crucial element, as it requires that something of value is exchanged between the parties, which can be a promise, service, or cash. Lastly, Legal Purpose establishes that the contract's objective must be lawful and not against public policy.

Understanding these elements is vital because if any of these components are lacking, the contract may be deemed unenforceable. This is why this option correctly captures the fundamental aspects necessary for a contract to be valid and enforceable.