Business Law

Question:

Maniam is an antique collector, he offered to buy Nandas antiques piano at the price of RM15,000 although the current market price of the antique piano is higher than that. Both of them had signed the agreement and Nanda has received the payment from Maniam.

A few days later, Nanda changed his mind as he claims that the price of the antique piano is too low.

Required:

The report should be approximately 1,500-2,000 words

Part A. Advise Nanda on whether he can repudiate the contract with Maniam. (Confine your answer to the law of contract).