Myra owns a house, which she advertises for sale for $200,000. On May 1, 2018, Nicole offers Myra $180,000 for the house. On May 5, 2018, Myra delivers to Nicole a form that includes additional terms but does not state a price. At 9 am on May 6, 2018, Nicole signs the form and gives it to Odell, her administrative assistant, with instructions to mail it. At 10 am, Myra calls to tell Nicole that the deal is off. The next day, Odell mails the signed form to Myra. When Myra refuses to sell the house, Nicole files a suit against her, alleging breach of contract. Myra claims that there was no contract. Is there a contract?

1 What are the elements of a valid contract. Please define each element.

2 Apply the facts to your definitions. Are all of the elements present in the scenario provided?

3 What is your conclusion? Is there a valid contract that is enforceable in a court of law?