You have been recently been appointed as an agent. Your principal is a real estate developer and has given you instructions to find, negotiate and conclude the purchase of a piece of land on which he proposes to build a new condominium (apartment) complex.The budget that you have been given is $1 million. The principal does not yet want his involvement in the project to become publicly known. As such, the arrangement is that you will purchase the property in your own name and then transfer it to the principal. You are aware from the discussions in which you have been involved that your principal proposes to do a high-end development and as such the complex would have two swimming pools, a fitness centre and other luxury features. we are required to review the following scenario and explain whether we would be breaching the duties of an agent. explain legal principles.

Pink Acre is available for $900, 000 and Blue Acre is available for $1 million. Pink Acre is owned by your father-in law Mirri Klashfield whom you do not like. You decide to purchase Blue Acre. Both pieces of land are suitable for the development contemplated by your principal but Blue Acre is closer to the city centre.