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 must also address the following:

• Define the five essential elements of an enforceable contract, and demonstrate how each element relates to your example.
• Explainthecircumstancesofabreachofcontractinyourexample,anddiscusspossibleremedies.

The paper must be three to four pages in length (excluding title and reference pages) and formatted according to APA style. You must use at least two scholarly sources other than the textbook to support your claims. Visit the Choose Your Business Structure section of the U.S. Small Business Administrations website. Cite your sources in-text and on the reference page.