Itumeleng is very excited as he has just heard that he has won a new Land Rover. He phones Shadrack and tells him the good news. Itumeleng offers to give his old Land Rover to Shadrack, who gladly accepts the offer. They agree that Itumeleng will deliver the old Land Rover to Shadrack once he has received his new Land Rover.
Which ONE of the following statements REGARDING THE VALIDITY OF THE AGREEMENT between Itumeleng and Shadrack is CORRECT ?

Question

Itumeleng is very excited as he has just heard that he has won a new Land Rover. He phones Shadrack and tells him the good news. Itumeleng offers to give his old Land Rover to Shadrack, who gladly accepts the offer. They agree that Itumeleng will deliver the old Land Rover to Shadrack once he has received his new Land Rover. 
 Which  ONE  of the following statements REGARDING THE VALIDITY OF THE AGREEMENT between Itumeleng and Shadrack is  CORRECT ?

Answer

A valid contract has been concluded.

Answer

The agreement is void because it is not contained in a written document.

Answer

The agreement between them is not a contract, because no price has been specified.

Answer

A valid contract will only arise once Itumeleng has received his new Land Rover.

Crowdly

Itumeleng is very excited as he has just heard that he has won a new Land Rover....

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