Edwina owned a house in Byron Bay. Due to a loss of income, resulting from a downturn in her business affairs, she urgently needed money. In June 2020 Edwina entered into a written agreement with her friend Isaac wherein he agreed to buy the house from her now, lease it straight back to her, then allow her to buy it back at market price some time in the future when she was in better financial health.

Isaac no longer wants the house so transfers it to Adam who becomes the registered owner. The contract between Isaac and Adam contains the following clause:

Clause 7.

"The purchaser acknowledges that an agreement exists between Edwina and Isaac as stamped and signed on 24 June 2020"

Edwina has approached you because she now wants to buy her house back but Adam refuses to sell it to her. Advise Edwina as to the possibility of her regaining the property should she sue Adam for fraud. Do you think she will succeed? Is there an alternative to fraud that Edwina should consider? Your answer must refer to Bahr v Nicolay [No 2] (1988) 164 CLR 604.