Which of the following is NOT a requirement for a legally binding contract?

In the formation of a legally binding contract, certain fundamental requirements must be satisfied to ensure that the agreement is enforceable. One of these key requirements is that there must be a legal purpose, meaning the contract's objective should not involve illegal activities. Additionally, mutual consent is essential; both parties must clearly agree to the terms of the contract, demonstrating that there is a meeting of the minds.

Another critical component is the exchange of something of value, known as consideration. This can be money, services, or goods, and it reflects the intent of both parties to engage in the agreement.

However, the requirement that a contract must be notarized is not necessary for the contract to be legally binding. Notarization may be recommended for certain types of documents, especially those that must be filed in public records or for specific legal conveyancing, but it is not a universal requirement for all contracts. Consequently, it is possible for a contract to be fully enforceable without being notarized, provided that the other essential elements of a legally binding agreement are present.