b. marc rights and liabilities

(b) Assume instead that Marc has entered into the contract with Mr Chua to purchase the land at the price of $40 million. Marc paid Mr Chua the sum of $2 million Insert Last Image 0 payment towards the purchase price and the remaining 95% ie $38 million was due to be paid on completion of the contract, three months later. As part of the terms of the contract, Mr Chua was required to clear the land of all the debris currently on it. Mr Chua paid $20,000 to a third-party contractor to clear the debris. Just prior to completion of the contract, the government announced that the plot of land owned by Mr Chua was to be acquired by the government in connection with the plans to build a MRT station nearby. Required Advise Marc on his rights and liabilities in respect of the contract signed with Mr Chua. 4