Congratulations! You found your dream job right here in Charlotte! You were hired a year ago and the job has met all your expectations: the work is interesting; you have made good friends among your co-workers; you anticipate a promotion in the near future; and the pay and benefits are great. Suddenly, management announces that the company is being acquired by a bigger corporation. Each employee is called in to a meeting with Human Resources and is told that in order to continue working, the company requires you to sign a non-compete agreement. This agreement says that should you be fired or resign from your job, you are prohibited from working at a competitor within the same state for 1 year. If you do not sign the agreement, you will be fired. If you do sign, you continue with your same job with the same responsibilities, pay, and benefits. In a post of at least 250 words, respond to the following:

1. Describe the significance of consideration in forming a contract.
2. If you sign the contract, is it enforceable? Explain your answer by analyzing whether all the elements required to form a contract are established.