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In this tutorial, the presenter continues the discussion on contracts, focusing on their essential elements. Previously covered were the six elements of a contract, with writing being the seventh if required. The session elaborates on the concepts of offer and acceptance using the example of selling a bike for $50. Key points include: the offer (selling the bike), acceptance (agreeing to buy the bike), consideration (the exchange of the bike for $50), and legality (the contract must involve legal activities). The tutorial aims to provide a more detailed understanding of these fundamental elements as part of contract law.