1. One night, Bob was leaving his health club, but his car wouldn't start. Bob asked Ted, an acquaintance at the health club for a ride home. Even though it was 50 miles out of his way, Ted agreed and was glad to do give Bob a ride. When they arrived at Bobs house, Bob expressed his gratitude to Ted, saying Thanks for the ride. Next time I see you at the club, Ill give you $100.The following 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 analyze whether Bob is legally bound to pay Ted $100. You must identify and discuss each element of a valid contract separately.

2. Must be typewritten in Times New Roman or Arial 12-point font, double spaced, and with 1-inch margins;

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

4. Each question must include at least three scholarly sources; 

5. Must cite sources according to proper APA formatting guidelines;