Discuss the concept of \"pre-incorporation contracts" with reference to case law. In your discussion, address the following: (i) why promoters may wish to enter into contracts on behalf of companies not yet formed; (ii) the common law obstacles to contracting on behalf of an entity not yet in existence; (iii) common law methods of entering into contracts on behalf of entities not yet in existence; and (iv) pre-incorporation contracts under the Companies Act 28 of 2004. [50 marks]