QUESTION $1$On $17$ October $2023,$ Mike sells a motorcycle to his friend Peter for R $250000-00.$ Mike delivers the motorcycle to Peter on $18$ October $2023$ at $08$h$00,$ at which time Peter also pays Mark the purchase price. It appears that Mike only bought this motorcycle on $10$ October $2023$ from Tom for the price of R $175000-00.$ Although Tom gave the motorcycle to Mike on that date, Tom and Mike agreed that the purchase price was only payable by Mike on $1$ November $2023.$ The motorcycle was never registered in Mikes name and also not in Peters name. Both contracts are in writing and signed by the respective purchasers and sellers. All parties are older than $18$ and have full mental capacity. It is not illegal to sell this type of merchandise$\mathrm{.}1\mathrm{.}1$ Explain briefly whether a valid contract of sale was concluded between Mike and Peter. Apply the requirements for the conclusion of a valid contract of sale. Do NOT just list the requirements. Give a brief description $(2-5$ lines$)$ for each requirement given the facts provided. $(8)1\mathrm{.}2$ Who is the owner of the motorcycle on $18$ October $2023$ at $09$h$00?$ Provide reasons for your answer by referring to both transactions. $(8)$