Which of the following is NOT required for a party to have the capacity to contract?

For a party to have the capacity to contract, they must fulfill certain legal criteria that ensure they can understand the terms of the agreement and are not coerced into it. Being of legal age and being of sound mind are fundamental requirements. Legal age refers to the minimum age at which a person can consent to a contract, typically 18 years in most jurisdictions. Being of sound mind means the individual must be capable of understanding the nature and consequences of the contract they are entering into, which excludes individuals who are mentally incapacitated.

Not being under duress indicates that the individual voluntarily entered the contract without being forced or threatened, which is essential for ensuring that the agreement is valid.

On the other hand, being currently employed is not a requirement for having the capacity to contract. Individuals can enter into contracts regardless of their employment status, as capacity centers around mental and legal competency rather than economic or job-related factors. This highlights that employment is irrelevant to a person's legal ability to contract.