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2a) A contract is merely a legally enforceable agreement. People regularly make promises, but only some of them are enforceable. For a contract to be enforceable, seven key characteristics must be present.

Please respond to all of the following prompts in the class discussion section of your online course:

• First, describe a time that you made an agreement with another person only to have the other person refuse to follow through on the deal (this could be anything from the sale of a car to an agreement to go to a movie).
• Which of the seven elements listed in the chapter characterized the agreement?