Final answer:
In contract law, competence involves not being under the influence, being of legal age, and having mental competency to understand the contract. Educational attainment, such as completing secondary education, is not required for a party to be considered competent.
Step-by-step explanation:
The question explores the concept of competence in the context of parties to a contract. Competence refers to the ability of an individual to enter into a legally binding contract. According to the law, there are several requirements that must be met for a person to be considered competent. Specifically:
The person must not be under the influence of drugs or alcohol.
The person must be of legal age.
The person must be mentally competent to understand the contract.
These criteria address the individual's ability to comprehend the implications and obligations associated with the contract and to make informed decisions. The option that does NOT describe a competent party is: D. The person must have at least completed secondary education.
Educational attainment, such as completing secondary education, is not a legal requirement for competence in contract law.