The lecture covered the contractual formation process and the elements necessary to create a legally enforceable contract. Consider a time you entered into a contract. This can be an instant contract, such as buying an item at a store or online; a more involved contract, such as entering into a phone or internet agreement, or a complex contract, such as buying a house, leasing an apartment, or entering into a contract to attend college.

In your initial post, address the following bullet prompts:

• Discuss the type of contract you entered and what it covered, and identify the contractual elements of the contract you entered. Specifically, explain the offer, acceptance, and consideration.
• Explain if and why the contract met the requirements for mutual assent, capacity, and legality.
• Summarize whether the contract was executed as agreed to - did both parties uphold their legal obligations under the contract or did the parties fall short of meeting those obligations.
• Explain your thought process as you entered into this contract. Did you realize you were entering into a contract at the time? If applicable, did you read all the terms of the contract, and/or did you understand all your legal responsibilities?