Which of the following is NOT considered a Required Contract Element?

In contract law, certain elements are essential for a contract to be legally enforceable. These required elements typically include acceptance, consideration, and competent parties. Acceptance refers to one party agreeing to the terms proposed by another party, which forms a mutual assent to the contract. Consideration involves something of value being exchanged between the parties, which is a fundamental aspect of a contract's validity. Competent parties ensures that all contract signers have the legal capacity to understand and commit to the agreement.

Ethical negotiation, while important in terms of establishing a positive relationship and maintaining integrity during the negotiation process, is not a required element for the formation of a valid contract. It relates more to the approach and conduct of the parties during negotiations rather than the structural components necessary for a contract's enforceability. Thus, it is recognized as a practice standard rather than a legal necessity, making it the correct choice for what is NOT considered a Required Contract Element.