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Chris is the owner of a small bookshop while Kelvin is an expert who provides...

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Accounting

Chris is the owner of a small bookshop while Kelvin is an expert who provides business consultancy services. Chris has relied on Kelvins business advice since six years ago. On 1st January, Kelvin invited Chris to do an online bookselling business project together. Chris agreed and they then signed an agreement as to the project. Chris did not read the agreement carefully when he signed the agreement. There was a statement in the agreement saying, in an average size, that while Chris and Kelvin would share the profits of the said business equally, only Chris was to bear the debts of the said business in case it incurred debts (they did not discuss who was to bear the debts of the business before they signed the agreement). Kelvin also did not explain the terms of the agreement to Chris (Chris understood all the words in the agreement).

On 4th January Chris noticed the said statement about his sole liability for the potential debts of the said business. He demanded to cancel the agreement immediately (Kelvin and Chris had not commenced business yet).

Discuss whether Chris can cancel the agreement made with Kelvin.

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