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Lim, the owner of a car delivered his car to Chan, a mercantile agent for sale. Lim stipulated and Chan agreed that the car


 

Lim, the owner of a car delivered his car to Chan, a mercantile agent for sale. Lim stipulated and Chan agreed that the car should not be sold at less than a specified price without Lim's permission. Chan intended from the very beginning to sell the car immediately for the best price he could get and use the proceeds for his own purpose. On the same day Chan received the car, he sold the car for less than the specified price to Raymond who bought it in good faith and without notice of the agent's fraud. Advise if Lim could get the ownership of the car back from Raymond. (10 Marks)

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