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Contract Exercise Introduction A contract is an agreement between two or more parties. Each party promises to do or not to do something. The five elements of a valid contract are: the offer, acceptance, consideration, capacity of parties to contract, and legal purpose. Contracts can be formed between individuals, businesses or a combination of both. Even individuals within a family can form a contract as legal backup and protection in supporting promises made. In our paper, we have drafted a contract between two parties in a family containing the essential elements of a valid contract. Background Horace Grump is an eighty-year old bachelor living on his cattle ranch in Bisbee, Arizona. Nettie Samaritan is his niece and only living relative residing in Fairbanks, Alaska. Approximately six months ago, Horace fractured both his legs in a horse riding accident on the ranch and now moves with the aid of a walker. Horace has come...

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