Ali entered into the following contracts with Syarikat Buildwell & Co (Buildwell), a firm dealing in realty and construction:(a) A contract to purchase a piece of land from Buildwell at a price of RM10,000, a price very much below the market price. (5 marks)(b) A contract for the lease of an office building at a price of RM1,500 per month, a price which reflects the current market rate. The term of the lease is stated as ‘for as long as the lessee wishes’. (5 marks)Buildwell now refuses to complete the contract for the sale of the land on the ground that the price is too low. Further it refuses to proceed with the grant of the lease claiming that the contract is not valid.Required:Advise Ali on the legal position in respect of the aforementioned contracts, (a) and (b).Note: the mark allocation is shown against each contract. (10 marks)