Abel established a relatively successful, high-street accountancy firm called Able accountants and Partners. He is due to retire in six months, and has put up the firm for sale. He is approached by Prince, who expresses interest in purchasing the firm and asks why the firm has been so successful. Abel replies that it is because: 'There are no other accountancy firms within 30 miles. This business will make you a fortune. I believe the annual level of profit is around 1.2 million.' Prince asks his accountant, Lisbon, to verify Abel's stated level of profits. Lisbon confirms Abel's statement, but, in fact, discovers the firm only makes around 100,000 profit per year. Prince asks for a few weeks to think it over. Abel then discovers that Firehouse accountants, a multinational accountancy firm, is due to open an office close to his firm. He does not inform Prince of this. Prince agrees to purchase the firm and subsequently discovers the true level of profit, as well as the opening of the rival office. Prince seeks your advice to his legal options