This question is from subject BUSINESS & CORPORATION LAWS and answer should be made on the basis of AUSTRALIAN LAW with three thousand words maximum. Chris is an ambitious fashion designer whose aim is to design his own clothes and sell them through a retail store owned by him. Chris decided to look for suitable premises from which to sell his range of clothing designer goods. However, since he knew he would not be able to finance his entire business, he asked his father for help.Chris's father, who owned many commercial properties, agreed to lease one of his shops to Chris at half the rental he would normally charge. Chris inspected the premises. It looked like an old factory. Chris told his father that he would like to make some alterations to the layout of the shop so as 'give the clothing shop a modern and trendy look'.Chris told his father that he wanted to start on the renovations immediately and would speak to the local Council in Burwood, Sydney to get the necessary permits. Chris also agreed that he will pay for these store renovations which, after quotes had been given, were calculated at $ 50,000. Chris, however, said to his father that he did not want to start on the renovation project unless his father was certain that the shop was available for rent at the amount agreed. Chris's father said he would let Chris know in the next few days if he changed his mind about renting the shop to him. Chris also said to his father that the opening of the shop on the date agreed in the lease was important him to ensure success in the business. It was estimated that the renovations to the shop would take 3 months, by which time Chris would have designed and created the required shop stock for sales. A week after Chris reached an agreement to sign the lease with his father, Chris started on the shop renovation project, having heard nothing from his father. A month after the renovation work began, Chris noticed his father drive past very slow past the shop in which the renovations were in progress. Chris received a phone call from this father, two months later, who said he received a higher rental for the same shop and therefore will not be signing the lease agreement with Chris threatened to sue his father for breach of contract. His father replied " We are family. I love you. You can't sue me. Besides,I have not signed the lease agreement and so the law is on my side. Bad luck, son. By this time, Chris had already spent $ 50,000 on renovating the shop to suit his business needs. Advise Chris as to his legal rights with reference to relevant principles of contract law. Give reasons for your answer based on contract law (common law legal principles and relevant precedents.