Dear expert tutor,

I have received this task yesterday and i spent lot of time with it because i am not quite sure with my understanding for the question itself. As i am an overseas student the understanding of the law case might be really hard and i have tried my best for, and i really need a help from expert tutor to help me with the task. Could you help me figured it out?

In advanced, i am really appreciated for your help, Thank you!

Question Jack Jones has recently inherited an investment property from his late mother who passed away five months ago. The property is a beach front villa that is located in a very popular tourist attraction and the recent valuation of the property indicates that this house is worth $1.6 million. Jack needed cash to build his share investment portfolio since financial investment has always been a passion of his. Jack then decided to sell the villa and in order to have the property sold quickly, Jack entered into a contract for sale of the land to a purchaser Rose Darling for the price that is much lower than the market value. Prior to completion of the contract, Jack changed his mind about selling the property to Rose at undervalued price, and in order to avoid his contractual obligations to Rose, Jack subsequently registered a business with ASIC (Australian Securities & Investments Commission) called Jack Holdings Pty Ltd in which Jack was the sole director and secretary of the entity. Instead of selling and transferring the property to the purchaser Rose Darling, Jack transferred the property to his newly formed company Jack Holdings Pty Ltd for the purpose of defeating Rose's right to seek specic performance of the contract (effectively to purchase the property). Rose Darling found out about the transaction and following her investigation on the relationship between Jack Jones and his new entity Jack Holdings Pty Ltd, she has instructed her lawyer to seek court order for specic performance (meaning court directs a party to perform the obligation as agreed under the contract) against Jack Holdings Pty Ltd. Place yourself in the position of the court and deliver yourjudgmentldecision on whether Jack Jones and his new company Jack Holdings Pty Ltd are separate legal entities? Will Jack be obliged to sell the property to Rose Darling? In your response you must: - Use IPAC method to structure your decision; - Consider and apply the relevant principles and decisions of the legal authorities you have studied when reasoning your decision