What is required for a contract to have a legal purpose?

For a contract to have a legal purpose, it is essential that the purpose must be lawful. This means that the objective of the contract must be in compliance with the law and not involve any illegal actions or outcomes. A lawful purpose ensures that the agreement can be enforced in a court of law, and it protects the rights and interests of all parties involved in the contract.

If a contract is based on activities that are illegal—such as committing a crime or violating public policy—then it lacks legal purpose and is void. Contracts need to adhere to legal standards to maintain their validity and enforceability, which is why lawful purpose is a fundamental requirement in contract law.

The other options, while they may pertain to certain aspects of contracts, do not address the critical requirement that the purpose itself must comply with legal statutes and regulations. Hence, they do not fulfill the core principle necessary for a contract's legal standing.