Written Contract – must understand business law for this paper.

Atleast 1 full page APA, Times New Roman 12ptThis should be a written contract based on the set of facts below and using the attached required terms.Facts:You are a broke college student, who is a business major, in need of some extra tuition money for next quarter. Looking around your apartment, you notice that you have a set of encyclopedias that your grandmother gave you as a high school graduation present. Now that the internet has everything for your research needs, you realize that the books are more for decoration than actual use. You quickly put an ad in your local newspapers, in which you describe the encyclopedias as being a complete set, only two years old, perfect condition, and that the buyer must buy the whole set. The value of the set is approximately $600.00, but you list the price as $650.00 in case a potential buyer wants to negotiate. It will let the buyer feel as though they received a deal.Within a week, Robert Barker, a high school history teacher contacts you and expresses an interest in the encyclopedias. He wants to use them in his classroom so that the students can use them during research competitions. After inspecting the set and with some negotiation, both parties decide on a final price of $600.00. Mr. Barker requests that you draw up a written contract because you have taken a business law course. He will need to submit this contract so that he can be reimbursed by his school for the cost of the books. You are meeting with him in one week so that both parties can sign the contract. At this time, you will exchange the books for cash.Contract Formation:Based on the above facts, you sit down to draft a contract. Remember there are required elements to every contract. Refer to the Contract Requirements attachment for the recommended terms that should be included in this particular contract. How you include these terms is up to you.The paper should include at least half of the above elements and include proper spelling, grammar, and punctuation.Feel free to research example contracts on the internet if you are having trouble structuring or formatting the contract. – do not include an example or use the example as an official reference for the paper!- Please refrain from using “legalese” in the contract and keep the language simple and understandable.