Facts: Buonatayola is an Italian cheese maker that agreed to send 40,000 pounds of pecorino to Rienzi, who would then sell the pecorino in the United States. The parties had an oral agreement. The only written evidence was an invoice that provided that Buonatavola sent Rienzi the pecorino and that payment was due on July 26,2016 . Rienzi received the cheese from Buonatayola and then repacked the pecorino under its own brand name and sold the cheese to a company called Wakefern, which then placed the cheese for sale in various Shop. Rite supermarkets. Soon thereafter, Shop Rite began receiving numerous complaints from customers that the cheese was of poor quality and defective. Rienzi was forced to issue credits to Shop Rite, and Wakefern demanded that Rienzi accept return of the entire lot and refund Wakefern its purchase price. Rienzi informed Buonatavola of the problem, and after an inspection of the goods and the conclusion that the cheese was defective, Buonatavola agreed to accept a return of the product but never showed up to make arrangements. Rienzi stored the cheese for more than 2 years. Rienzi sought a refund of the money it paid for the cheese, along with costs. Does a valid contract exist? If so, explain each element of the contract. If not, explain what elements are missing.
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