QUESTION 1Latif, an art expert, has been acting on behalf of Datuk Zainal in buying and sellingartwork for him. Recently, Datuk Zainal instructed Latif to sell some of his art collectionas he needed cash to finance his business. Among the items that Datuk Zainal wantedLatif to sell for him were a painting by a French artist, Le Cartier, worth RM1millionand a sculpture by Cardoza worth RM500,000. Latif obtained an offer of RM1.2millionfrom a buyer, Datuk Chew, for the painting and advised Datuk Zainal to sell. BeforeDatuk Zainal sold it to Datuk Chew, another interested buyer made an offer ofRM1.5million. Latif did not inform Datuk Zainal of the second offer because DatukZainal has already agreed to sell the painting to Datuk Chew. As Latif did not havetime to look for a buyer for the sculpture, he asked his nephew, Rosli, to sell thesculpture. Rosli, who has no experience in selling artwork, sold the sculpture to a buyerat a very low price. Datuk Zainal was upset when he discovered that Latif did not informhim of the higher offer on the painting and that Latif assigned his task to sell thesculpture to an inexperienced person. Datuk Zainal intends to sue Latif for his losses.Advise Datuk Zainal on the above situation by applying the Contracts Act 1950 andrelevant cases.

In the given scenario, Actual Worth of the painting (in Malaysian Ringgit) = RM 1 Million The actual…

Answered: Advise Datuk Zainal on the above…

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

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Advise Datuk Zainal on the above situation by applying the Contracts Act 1950 and relevant cases.