Reference no: EM13351594

One night, Bob was leaving his health club, but his car would not start. Bob asked Ted, an acquaintance at the health club for a ride home. Even however it was 50 miles out of his way; Ted agreed and was glad to do provide Bob a ride. When they arrived at Bob's house, Bob expressed his gratitude to Ted, saying "Thanks for the ride. Next time I see you at the club, I'll give you $100." The subsequent week, Ted saw Bob at the Club and asked for his $100. Bob told him that he wouldn't give Ted $100. Using the elements of a contract

a)  Discuss and examine whether Bob is legally bound to pay Ted $100. You must recognize and discuss each element of a valid contract separately.

Each question must be answered in a minimum of 300 words;

Must cite sources according to proper APA formatting guidelines;