As part of establishing Stamps R Us(asdetailed in the previous question) and prior to the company being registered by ASIC, Edwardis assigned to investigate buying some stamps that the new company can have as stock when it first launches. He visitsalocal stamp dealer,Mohamed, ofMohamed'sCollectorStamps Pty Ltd, who is very keen to getEdward'sbusiness.MohamedtellsEdwardthat if the new business buys stamps from him worthover$10,000, he will giveEdwarda rare 1901 Australian Federation stamp worth around $900 as a personal gift to show his appreciation.Edwardis excited about this.The next day, atameetingof the fivefriends,he recommends that they buy a dozen rare stamps worth $11,000 in total. However, hedoesn't mention the personal giftMohamed offered him. Theothersallagreewith Edward's recommendation. So, after the meeting,Edwardgoes ahead and buys the stamps, alsoreceivingthegift of theFederation stampfrom Mohamed.

Advise the variousparties/entitesof their respective rights and liabilities, referring to relevant legislation and cases.