economics law

2. In January 2018, Charles leased out one of his vacant properties for $5,000 per month to Williams to run a scrappage business. The lease specifies that the rent is to be paid to Charles every six months and that it will increase every year by 10%. Williams pays Charles $30,000 in June 2018 and December 2018 but then tells Charles that he is having financial difficulties and needs every dollar he can to buy equipment. Charles says OK, I will let you off paying the increase this year" . Williams is pleased with this and uses the money he would have had to spend on the rent increase to buy new tools. In June 2019, Williams pays $ 30,000 to Charles, but Charles contacts him demanding an additional $3,000. When Williams refers to their earlier conversation, Charles says "Whatever I said, the lease you signed specifies that the rent will go up by 10% each year" . Williams rejected. Charles sued. Required: Please analyze Charles' s legal position in this scenario. With which party do you believe the court sided? Explain why. (14 points)