Which of the following is NOT one of the essential elements of a contract?

The essential elements of a contract outline what is necessary for a legally binding agreement to be formed. The first element, offer and acceptance, signifies that one party must make a clear proposal, and the other must agree to it to create a mutual agreement. The capacity of the parties refers to the legal ability of individuals or entities to enter a contract, ensuring that all parties involved can understand and adhere to the terms. Lastly, the requirement for a contract to be definite and clear ensures that the terms are specific enough for all parties to understand their obligations.

While a negotiated agreement can play a role in the formation of a contract, it is not considered a standalone essential element. Instead, negotiation is part of the process that leads to the offer and acceptance, but it does not constitute a required element for the validity of a contract. Thus, identifying a negotiated agreement as an essential element is inaccurate, which makes it the correct response to the question.