Question 12 Wingtown Ltd purchased a site for a shopping mall next to an existing block of shops and had a forecast prepared of the amount of foot traffic that could be expected if a parking lot for 300 cars was built next to the mall During the course of building the mall, the local planning authority required the parking lot to be placed in such a way that it would be accessible only from side streets and not from the main road. In addition the number of parking spaces was reduced to 250. Unfortunately, Wingtown Ltd failed to alter its forecast to take into account the change forced by town planning requirements and innocently used the forecast to negotiate a lease with Coco's Chicken House. Coco's was suspicious of the forecast, but was persuaded by the fact that Wingtown Ltd's representative had approximately 40 years' experience in the industry. As a result it signed the lease as the tenant The forecast was seriously flawed and the mall has not experienced the amount of foot traffic predicted. Coco's has not had the number of customers necessary to maintain a viable business. (a) Advise Coco's Chicken House as to its potential remedies. 10 marks (b) Would your answer to (a) be different if the contract had contained a clause saying the following: "This agreement forms the entire agreement between the parties, and all warranties, guarantees and representations, either express or implied, are hereby excluded. 5 marks