(Answered) Relevant statutes and decided case law

Management Studies

Question: Ravin is the real estate agent and he had an option to sell the land for RM100,000.00. Ravin found difficulties in getting a buyer and he form a partnership with Ahmad to develop the land into a housing estate. As they failed to obtain a bank loan to finance the purchase of the land, Ahmad bought the land with his own money as well as borrowed money from his mother. Ravin informed Ahmad that he wanted to seek a declaration that the land to be held in trust for the partnership between him and Ahmad. Ahmad is not happy about that. Can Ravin continue with such action and advise him with reference to the relevant statutes and decided case law. Please explain your answer and also provide examples

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