QUESTION Evaluate the Essential Elements of Valid Contracts.

Dear Tutor Please see the "elements" below thath are being refered to in the question above

The following elements must be in place for a valid contract: "There must be consensus between the parties. The parties must agree on the objectives of the contract. This is also referred to as 'true agreement' or 'the meeting of minds'. This means that each party to the contract must have the serious intention to create rights and duties to which each of them will be legally bound; that the parties must have a corresponding intention, and that the parties must make their intention known to one another. In other words, there must be a valid offer and acceptance.

Each party to the contract must have capacity to act, which means that he or she must be legally capable of performing the particular act which gives rise to the formation of the contract.

The agreement must be legally possible. This implies that the agreement, as well as the rights and duties that are created, must be permitted by the law: in other words, it must be lawful or legal.

The agreement must be physically possible: it must be objectively possible to receive the rights and to perform the duties arising from the contract, and the performance must be certain or ascertainable.

• If formalities are prescribed for the formation of the contract, either by the parties themselves or by the law, they must be observed" (Schulze, Manamela, Stoop, Manamela, Hurter, Masuku, Stoop, 2019
• Please refer to below guideline to answer the question
• Question 3.1 the verb "evaluate" requires student to provide relevant evaluation parameters/criteria utilised for the question - pay attention to Relevance, Efficiency and Effectiveness of answers, selected information aligned to the context and question (must relate to question).