1. Ted is a friend of Martha, the owner of a news and magazine shop. Every day, Ted spends 30 minutes in Marthas store, looking at the newspapers and magazines. He usually buys one or two papers. One afternoon, Ted goes into the shop, looks at the racks, and picks up a newspaper, priced at $2. Ted waves the paper at Martha and leaves the shop. Is there a contract? If so, discuss its formation, any performance, and the parties enforceability?

2. On May 1, ABC Inc. and XYZ, Inc.., orally agree that ABC Inc. will pick up from EFG, Inc. and deliver to XYZ, Inc.s manufacturing plant a certain number of chocolate chips on the last day of each month until November 31st.. Under the agreement, XYZ, Inc. will pay for the delivery services on the middle day of each month following each delivery. On May 1, is this contract express, implied in fact, or implied in law? On November 31st , after all of the deliveries have been made, is the contract executed or executory?