Question $4(3$ points$)$

Bucky is going into their sophomore year of high school and is set to turn sixteen the next summer. Their uncle tells them that if they can get a $4\mathrm{.}0$ GPA during the school year, they will give them $$5,000$ towards a car. They write down the terms and both sign it$.$ Bucky gets a $4\mathrm{.}0$ GPA and goes to their uncle and asks for the money, but he backs out of the deal.

Do they have a valid contract? If not, what element of a valid contract was not met?

Offer

Acceptance

Consideration

Legality

Capacity

All elements were satisfied