Michael, the lead counsel of your company, is in need of advice on the most important issues in contract law affecting families. Your supervisor has asked you to discuss with Michael some of the problems involved with contracts.

Explain the most important issues in contract law to Michael.
Write 1 scenario with 2 parties and a transaction and explain how each element is present or not present in the scenario. (Be detailed in your scenario so that you are able to clearly demonstrate each of the concepts covered in your memo.)
What do you think is the biggest problem that married couples have in terms of buying anything together including a home? When couples purchase anything together, what are the personal and professional considerations that must be considered?