Problem
Cap Tan Quirk is 16 years old. Cap left school last year in order to help care for his ailing parents. The Quirk home is located in Cashmere, Washington. To help pay a portion of his parents' medical care, Cap recently purchased a used baseball and bat at a local garage sale. The baseball and bat are old but in pretty good condition. Cap paid $45 for the baseball and bat and hoped to sell them for around $100.00. Mr. Sprock, age 44, lives next door to the Quirk home. Mr. Sprock owns Rare Antiques & Collectibles, an online business specializing in hard to find sports memorabilia. Mr. Sprock saw Cap's baseball and bat and offered him $500.00 for it. Mr. Sprock thought there was a chance that the Baseball and bat originally belonged to the famous baseball player, Babe Ruth. There was a handwritten name on each but the name was faded - so he couldn't be sure if they belonged to Babe Ruth, or not. If the signature turned out to be Babe Ruth then Mr. Sprock felt sure he could sell the bat and glove for a lot of money - much more than $500. If the signatures did not belong to Babe Ruth then the bat and glove were only worth about $5.00. Cap gladly accepted Mr. Sprock's offer. Mr. Sprock pulled five crisp $100 bills from his wallet and handed them to Cap. Cap then gave the baseball and bat to Mr. Sprock. The next day Cap deposited the money into his bank account and began looking for another good deal.
Discuss (IN DETAIL) whether each of the elements of a contract-mutual assent, consideration, capacity, and legality-exists in this case.
Determine whether a contract exist between Cap and Mr. Sprock?