Which of the following is correct?

All of the above

he correct answer is: All of the above.

• Proposal + Acceptance = Promise: When one person offers something (proposal) and the other person agrees (acceptance), a legally binding promise is created.
• Promise + Consideration = Agreement: A promise alone is not enough to create a contract. Consideration, which can be either a benefit to the promisor or a detriment to the promisee, is essential to turn a promise into a legally binding agreement.
• Agreement + Enforceability = Contract: Not all agreements are enforceable contracts. For an agreement to be considered a contract, it must meet certain requirements, such as capacity to contract, legality of purpose, and sufficient consideration.