Hypothetical - here is the scenario: Renee Renter has a lease agreement with Larry Landlord for her apartment unit at $900.00 per month. Renee's lease agreement expired on July 31, 2021, and Larry advised Renee that the rent would increase to $1,000 per month beginning August 1, 2021. Renee and Larry did not sign a new lease agreement. When August 1st arrived, Renee refused to pay Larry the new rental amount.

Do Renee and Larry have a contract? Explain why or why not.

Be sure to include the elements of a contract