Describe an example of a contract that you or someone you know entered into (e.g., rental agreement, cell phone agreement, property purchase or lease [e.g., car, home, furniture, etc.], home or car repair, or student loan agreement). In your description, be sure to provide specific contractual details including parties and subject matter involved. You should also address the following:
1. Define the five essential elements of an enforceable contract, and demonstrate how each element relates to your example.
2. Explain the circumstances of a breach of contract in your example, and discuss possible remedies.
Your paper should be three to four pages (excluding title and references pages), and it should be formatted according to APA style as outlined in the Ashford Writing Center. You should cite at least two scholarly sources in addition to the course textbook..