1. Describe each element necessary to form a contract. Determine whether each element is present in the Simon’s Food Truck (Wheelin’ and Dealin’) scenario. A. Offer B. Acceptance C. Capacity D. Legality E. Assent F. Consideration and Promissory Estoppel Simon has done so well in the food truck business that he attracted the attention of numerous investors. However, Simon never really considered partnering with other vendors until he received an inquiry from the Street Foods R Us franchise Orlando, the owner of the Street Foods R Us franchise, was interested in the possibility of setting up business in a food truck park with Simon as a part of a franchise agreement. Orlando would be the franchisor and Simon would be the franchisee. Orlando would supply Simon with the use of his nationally knowrn trademarks as well has his expertise. Orlando wanted to be certain that Simon was serious, so he asked Simon to secure a land lease and $20,000 for start-up costs. The $20,000 was to be paid to Orlando Simon withdrew $10,000 of his savings to secure a multi-year land lease and took out a $20,000 mortgage on his home to cover the franchise start-up costs. When Orlando mentioned that they needed lighting for nighttime vending, Simon contracted with an electrician service to install commercial-grade outdoor lighting fixtures throughout the property. The electrician’s bill totaled $8,000 Despite numerous phone calls, Simon did not hear from Orlando again until a month later, when Orlando advised Simon that the leased land was not to his liking and that the franchise start-up costs would be $45,000 instead of $20,000. BREACH OF Frustrated by Orlando’s demands, Simon protested and asked Orlando to reconsider the deal. Orlando refused and told Simon, “Take it or leave it.” To recoup his losses, Simon filed a lawsuit against Orlando based on breach of contract and undue influence. Orlando responded by asking the court to dismiss the case because no formal franchise agreement was ever signed between the parties and because he did not unduly influence Simon’s business decisions in the matter