Which of the following does NOT characterize a competent party in a contract?

A competent party in a contract is defined primarily by their legal ability to enter into an agreement. This means that they must be of legal age, which is generally 18 years or older in most jurisdictions, and they must also be mentally competent, meaning they have the mental capacity to understand the nature and consequences of the contract. Additionally, competent parties should not be under the influence of drugs or alcohol at the time of agreement, as this may impair their judgment and understanding of the contract's terms.

The requirement of having completed secondary education, however, is not a standard characteristic of a competent party. While education can contribute to a person's ability to understand contracts better, it is not a legal requirement for competency in this context. Therefore, a lack of a formal education level does not disqualify an individual from being considered competent when entering into a contract, as long as they meet the other criteria mentioned.