What happens to a contract if one of the essential elements is missing?

The correct answer is that a contract becomes voidable if one of the essential elements is missing. In the context of contract law, there are several essential elements required for a contract to be valid: offer, acceptance, capacity, consideration, and legality, among others. If any of these elements is missing, the validity of the contract can be challenged.

When a contract is voidable, it means that one party has the option to affirm or reject the contract based on the missing element. For example, if a party lacked the capacity to contract (such as being a minor), that party could choose to void the contract, but the other party cannot force the contract to remain enforced.

This differs from contracts that are labeled as void, which lack any legal effect from the start, or those that are illegal, which involve activities that are prohibited by law. Thus, the presence of any missing essential element allows for the possibility of the contract being voided rather than automatically rendering it valid or enforceable.