After several days of bad luck, Paula believes her luck is about to change. She finds a new job in a nearby town. Paula had been using the bus to go to work at Capstone Corporation, but she will need to purchase a car to commute to her new job. Fortunately, her neighbor Freddy Ford has just purchased a new vehicle and is selling his old Mustang. Paula meets with Freddy and agrees to purchase the Mustang for $1000. The parties also agree that Paula will bring Freddy the money the next day when she picks up the car. The next day, Paula calls Freddy and says, "I have the money. I'd like to come pick up my car." Freddy replies that Paula is too late. How can I summarize this? He sold the car earlier in the day. Do Paula and Freddy have a contract for the sale of the Mustang? Discuss the elements of a contract and relate those elements to the facts of the scenario.