What makes a contract enforceable?

For a contract to be enforceable, it must be recognized and capable of being upheld by the law. This means that the contract meets all the legal requirements that establish its validity, including mutual consent, a lawful object, consideration, and the competency of the parties involved. When a contract is deemed enforceable at law, it provides the parties with the ability to seek legal remedy if one party fails to fulfill their obligations.

While having a witness sign or using legal terms can enhance the formality of a contract, they are not necessarily prerequisites for enforceability. Approval by a government entity may apply in specific situations, such as certain types of regulated contracts, but it is not a general requirement for all contracts. Therefore, the key element that makes a contract enforceable is its ability to be enforced by the law, which is encapsulated in the correct answer.