Question: 10. List FIVE (5) elements of a valid contract. (5 marks) 11. Answer 'True' or 'False' based on the following: I. Countermand of payment of

10. List FIVE (5) elements of a valid contract.

10. List FIVE (5) elements of a valid contract. (5 marks) 11. Answer 'True' or 'False' based on the following: I. Countermand of payment of cheques can be made orally. (1 mark) II. Dividends warrants are a form of negotiable instruments. (1 mark) III. All ante-dated cheques are invalid as they are stale or out-of-date. (1 mark) IV. The person to whom the cheque is drawn payable is known as the drawee (1 mark)

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