Please answer all questions

Batho and Mabe are two 18 year old students from the University of Johannesburg. Batho studies biochemistry and Mabe is an accounting student. Mabe who is very business minded approaches Batho about a new method he has developed to produce a marijuana and cocaine oil. Mabe insist that they enter into a business contract in order to solidify their rights and obligations. Mabe drafts the agreement and includes a demand from Batho that he should be paid in stardust from Narnia. Mabe also includes his own demand, which states that he will first test each consignment of oil on Tumi from the Sports Department, before an agreement is reached. Mabe consequently emails he's signed copy of the contract to Batho. Batho is very happy with the agreement, signs it and emails the contract back to Mabe. Please answer the following questions based on the set of facts above: 1. Individually list the requirements for the formation of a valid contract. (5) 2. Briefly conclude on each requirement listed in 1, by relating the specific requirements for the formation of a valid contract back to the facts. (5) 3. Explain whether the agreement above can be construed to be an electronic commerce transaction or e-commerce? (3) 4. Would you identify the agreement between Batho and Mabe as a smart contract or not? Substantiate your answer. (3) 5. Has Mabe and Batho concluded a valid contract, motivate in one sentence