In your initial post, discuss whether you think a contract existed in this situation. Make sure to include the contract elements that are present. Also, state whether Staley has any recourse in this case. Provide rationale for your answer.

In your initial post, discuss whether you think a contract existed in this situation. Make sure to include the contract elements that are present is given below

Explanation:

Most contracts only need to contain two elements to be legally valid: All parties must be in agreement (after an offer has been made by one party and accepted by the other). Something of value must be exchanged - - such as cash, services, or goods (or a promise to exchange such an item) - - for something else of value.

The requisite elements that must be established to demonstrate the formation of a legally binding contract are (1) offer; (2) acceptance; (3) consideration; (4) mutuality of obligation; (5) competency and capacity; and, in certain circumstances, (6) a written instrument.

A contract is much more than an agreement between two people. There must be an offer and acceptance, intention to create a legally binding agreement, a price paid (not necessarily money), a legal capacity to enter a contract of your own free will, and proper understanding and consent of what is involved.

Identify an offer, acceptance, and consideration.

For a contract to be valid, it must have these three basic elements: a specific offer, acceptance of the terms of the offer, and consideration, which is the agreed-upon exchange of goods or services. A valid offer must be sufficiently definite.

Identify an offer, acceptance, and consideration.

For a contract to be valid, it must have these three basic elements: a specific offer, acceptance of the terms of the offer, and consideration, which is the agreed-upon exchange of goods or services. A valid offer must be sufficiently definite.