(Answered)-Frank wants to open a restaurant in Gray's shopping centre and - (2025 Updated Original AI-Free Solution

Question

1. Frank wants to open a restaurant in Gray?s shopping centre and enters into a lease agreement with Gray on 1 January. The monthly rental is $2000 and the lease is to extend until the 31 December. The restaurant is very popular and Frank makes a monthly net profit of $25 000. On 30 June Gary sells the shopping centre to Harriet. Harriet then gives Frank a notice that his lease has lapsed as a result of the centre having been sold.Discuss the legal position of the parties.