4. John decides that he wants to go into the business of buying, processing and reselling cashews. Needing a place of operation, John talks to Mr. Smith about buying his empty building in New Orleans. In addition to the building Mr. Smith agrees to sell a mechanical system for shelling and then drying the cashews. After much discussion they agree on a price and John on the spot gives Mr. Smith his promissory note for Five Hundred Thousand dollars. This is the full price for the building and the equipment. Mr. Smith is the undisclosed agent of Johnson and Johnson, Inc. . The principals agree to sell the equipment but decide that they do not want to sell the building. They negotiate the promissory note at their bank and return Four Hundred Thousand Dollars to John as the price of the building and keep the one hundred thousand dollars as payment for the equipment. Discuss the rights of the parties. Give reasons for any conclusions that you reach