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Read the University of Phoenix Material – Contract Paper Scenario. Write a paper of no more than 1,400 words in which you answer the following questions: · Identify the elements necessary to form the contract in the scenario. Was a valid contract formed? Explain your answer. · Will Paul and Priscilla be able to prove all elements of their breach of contract claim? Explain your answer. · What defenses does Danny have? · What remedies do Paul and Priscilla have? · Does the contract violate the statute of frauds? Explain your answer. · Should the breaching party consider creating a new contract, and if so, what should be included in the new contract? · Determine whether ADR is appropriate in this situation or whether the case should go to trial. Defend your response. · How were the principles of contract administration applied in the scenario? What aspects of the contract administration could have been handled more effectively? · Using contract administration principles, what are your recommendations to parties entering into contracts for the purchase of real estate? o Click the Assignment Files tab to submit your assignment.