1. Lois was a real estate agent working on commission.She entered into an agency agreement with Clark to help him sell a building lot.Lois found a buyer for the lot, Jeanne, but Jeanne could not raise Clarke's asking price of $199,000.Unknown to Clark, Lois and Jeanne agreed that Lois would purchase the lot personally and to sell it to Jeanne once Jeanne had finally raised the necessary $199,000.Lois then told Clark he was asking too much, and convinced him to sell the lot to her for $190,000. Six months after collecting her commission from Clark, Lois resold the lot to Jeanne for $199,000.Is Lois liable to Clark?If so, why is she liable and what would a court in all likelihood say she is liable for? If Lois is not liable to Clark, why not? (5 marks)