Who has enforceable rights under a contract?

The correct answer emphasizes that only those who have signed the contract possess enforceable rights. In contract law, a fundamental principle is privity of contract, which establishes that only the parties involved in the contract have the rights and obligations under that contract. This means that those who sign the contract are creating a legal relationship that binds them to the terms and conditions outlined, allowing them to enforce the agreement in a court of law if necessary.

Other parties, even if they have an interest or awareness of the contract, do not typically have the legal standing to enforce its provisions unless they are a third-party beneficiary, which is a specific legal recognition not extended to the general public or interested parties. Hence, the enforceability of rights is restricted to those who have taken the step of signing the contract, reinforcing the importance of the contract's formation and the parties’ intentions.