Question: QUESTION 7 [20 MARKSI Wong is a successful property developer. He instructs his employee Han to attend an auction for land in order to bid

QUESTION 7 [20 MARKSI Wong is a successful

QUESTION 7 [20 MARKSI Wong is a successful property developer. He instructs his employee Han to attend an auction for land in order to bid on his behalf. He says to Han, Do not spend a dollar more than 900,000 but do your utmost to get this land. It will be very valuable.' Han attends the auction and successfully bids $1 million for the property. He believes that the land is definitely worth this amount. He has already received an offer for the land from another bidder at $1.1 million. Explain the respective legal rights and duties of Wong and Han in relation to the transaction

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