Which legal term describes an agreement that lacks essential components making it unenforceable?

The legal term that describes an agreement lacking essential components, rendering it unenforceable, is a void contract. A void contract is one that is not legally binding from the moment it is created because it fails to meet the fundamental requirements necessary for a valid contract. These essential components include mutual consent, a lawful object, and consideration. If any of these elements are absent, the contract is considered void, meaning it has no legal effect and cannot be enforced by either party.

In contrast, a valid contract is one that has all the necessary elements and is enforceable in a court of law, while a voidable contract is a valid agreement that can be legally unenforced at the discretion of one party due to certain circumstances, such as misrepresentation or undue influence. A unilateral contract involves a promise made by one party in exchange for a specific act by another party, but it still requires the essential elements of a valid contract. Therefore, understanding the distinction between these terms is crucial for evaluating the enforceability of contracts in a legal context.