KYT is the owner of a quarry. KYT promises Tin to be awarded with a contract to operate as his quarry. Acting on the promise, Tin invested in purchasing the necessary types of machinery solely for the purpose to operate the quarry, constructing the infrastructure at the site, and working on the road and drainage despite no letter of an award being issued. However, KYT decided to change his mind and decided not to proceed with the award letter. Within this context, Explain: (a). The legal requirements for the formation of a valid contract. (b). Tin suffered losses due to the decision of KYT not to proceed with the project, despite the promises given earlier. Is there any remedy available for Tin in this scenario