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Essential elements of an enforceable contract

Give an example of a contract that you or someone you know entered into (for example, rental agreement, cell phone agreement, property purchase or lease?car, home, furniture, etc.; home or car repair, student loan agreement). Apply the five essential elements of an enforceable contract to your example and answer the following questions:

1. Was the contract successfully fulfilled?
2. Was there a breach of the contract?
3. If so, what remedies were available?

Must address the topic with critical thought.
Must end with a conclusion that reaffirms your thesis.
Must use at least one scholarly source.
Must document all sources in APA style

Any help would be appreciated. Thank you

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Solution Preview

Step 1
The example of a contract that my neighbor entered into was for the purchase of a used car for $10,500 from a nearby garage. The car is a Chevrolet Spark and appeared to be in good condition. It was a 2008 model.

Step 2
We apply the five elements of an enforceable contract. Both the parties were legally competent. Both were more than 18 years and mature (Klass . G, 2010). There was mutual agreement between the two. There was mutual consent and meeting of minds when ...

Solution Summary

Validity of a contract is discussed step-by-step in this solution. The response also has the sources used.