Question: 1. Identify, define, and explain the various elements of a valid contract, giving an example for each.Buyer offers to purchase Seller's commercial property for $1,250,000.

1. Identify, define, and explain the various elements of a valid contract, giving an example for each.Buyer offers to purchase Seller's commercial property for $1,250,000. Seller rejects the offer and offers to sell the property for $1,500,000.

part 2

Buyer believes the price is too high and offers to purchase the property for $1,350,000. Seller accepts and adds that closing must occur within 45 days. Is there an enforceable contract between the parties?

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