Assignment Question Wan A.[1] described a contract as "... fundamental to any sophisticated commercial economy. It stipulates rights, duties and remedies between individuals who require certainty when supplying goods and services" A contract is comprised of several essential elements such as offer and acceptance, intention, capacity, consent and consideration. Part (a) Critically evaluate the concept of consideration as an essential element of a contract. In your answer consider whether rules such as sufficiency of consideration and past consideration promote the law of contract as stated in the quote above