1. John Smith is a very mature 17-year-old high school student and just obtained his Mississippi drivers license. He wants to buy a car and approaches a car dealer about a new mustang. John offers $15,000 for the car. The car salesman realizes that the car has a defective transmission but he goes ahead with the sale of the car without telling John about the defect. John uses his life savings to pay cash for the car. After John drives off the car lot, the car breaks down. Johns parents get upset along with John and they all demand a return of the $15,000.

1. Is there a valid contract at the common law? Please discuss all of the required elements.
2. If Johns father had purchased the car instead of John, would Johns father have any remedies available to him to recover the $15,000? If so, please discuss the remedy?