1- Name and give an example of three (3) elements to a contract

2-Rick owned a business, Alta Inc., that needed to borrow $200,000 from the TD bank. TD insisted that Rick get someone to guarantee the loan in case Alta didn't repay it. Rick asked his 80-year-old mother Maria to sign a guarantee. When Maria refused, Rick shook his fist at her and yelled at her. He told her it was a simple form and it would never cost her a cent. Maria was so scared she signed it. Six months later, Alta couldn't pay the loan and TD demanded that Maria pay it. Maria called a lawyer. Rick has another problem. Alta sent $300,000 in goods to its customer Par Inc. in Calgary via a trucking company, Fred X. The Fred X truck crashed and all the goods were destroyed. Alta had no replacements so Par Inc. had to purchase similar goods from another supplier for $370,000 and plans to sue Alta for this extra $70,000. Alta says it owes Par nothing. Alta contacted Fred X and says Fred X is liable for $300,000 for the destruction of its goods. Fred X said Alta should look at the contract they have, as it clearly states Fred X limits its liability to $200. Fred X says all it will pay is $200. All parties have contacted lawyers.