The sports industry is a multibillion dollar industry. Thus, written contracts are important in the sports world.

Please discuss the following:

1) What are the elements that are required for a contract to be valid? Provide some examples of the different types of contracts that are commonly used in the sports industry. Do you think that such contracts are necessary? Either way, why do you think so?

2) What are the various contract dispute resolution methods that are commonly used when a breach of contract arises?

3) What are the different types of remedies that may be available for the non-breaching party? Discuss the pros and cons of each.