Question: 3. Joe is a property developer. He appointed Hugo to purchase a piece of land at an auction. He gave Hugo a limit of $800,000

3. Joe is a property developer. He appointed Hugo to purchase a piece of land at an auction. He gave Hugo a limit of $800,000 in order to make the purchase of the land. Hugo went to the auction and successfully bid $900,000 for the land. Hugo felt that the land was a valuable investment.

Hugo has a potential purchaser for the land at S 1m.

Advise Hugo as to his legal rights and responsibilities in Agency law.

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