Business Law;

Contract Fact Pattern: Read the following set of facts, identify the contractual issue(s) and discuss each of the five elements required to form a valid and enforceable contract.Answer in detail.

Ryan and Eva own a mansion in Surrey, which they inherited from Evas parents. Ryan and Eva decided that it would be nice to have a pool and large patio installed in their backyard. To that end, they contacted Pools Pools Pools (PPP) and entered a contract for the construction of a pool and patio for a total cost of $50,000. The contract included a representation from Ryan and Eva that there were no major gas or water pipes beneath their yard that could interfere with the work. During the excavation for the pool, the workers struck a water pipe and caused significant flooding on the property. The flooding caused irreparable damage to several historical artifacts that Ryan and Eva had stored in their basement. In response, Ryan and Eva told PPP that they were not allowed back to finish the job. PPP then sent Ryan and Eva an invoice for $25,000 for the services already performed before the water pipe was damaged. Ryan and Eva refused to pay PPP, claiming that PPP did not finish the pool installation and were not entitled to any money. Shortly thereafter, PPP needed some cash flow, so it transferred the $25,000 debt to a collection agency, in exchange for $15,000. The collection agency then sued Ryan and Eva for payment of the $25,000 debt. Ryan and Eva had no idea that the debt had been transferred from PPP to the collection agency.