Just few weeks back, Mr Alex came face to face with Allen in a Shopping Mall. Mr Alex informed Allen that he was going to take a legal action. Allen got worried and made a promise orally that he will repay the loan in next few days. Two weeks went past and Allen failed to make the payment as promised. Mr Alex seeks your advice if he can bring a legal action against Allen.

According to the passage above identify and explain the legal issues here present? (use 7 elements of Contract as per malaysian law)