Take a look at the attached excerpt of JSW Steel, USA Ohio, Inc. v. Marubeni-Itochu Steel America, Inc. (attached) It is a great example of basic problems in creating a contract (from what I can tell, this involved more than $1 million deal). 1. Was there a contract, according to the court? Why, legally? How does the court define a "contract"? 2. Why and how did the parties disagree about the existence of the contract? What was the contract about?