INSTRUCTIONS: Please read the following cases and answer the questions using the provided resources, your course textbook & your own ideas/insights based on the online learning sessions/interactions:

Mr. A agreed with Mrs. X to buy her apartment. However, the parties agreed that to avoid taxation on paper it would be a gift. In reality Mr. A paid for the apartment to Mrs. X. List all elements of a legal contract. Are all required elements in place? Explain your answer. (40 marks)