constructions contracts

6. A Real Estate Developer (RED) enters into a contract with a customer With, for the sale of a building for P1 Million. The customer intends to open a restaurant in the building. The building is located in an area where new restaurant faces high levels of competition and the customer have little experience in the industry. The customer pays non-refundable deposit of P50,000 and enters a long-term financing against RED the remaining 95% of the promised consideration, is this contract valid.? Explain your answer using the PFRS 15, Construction Contracts