Law Assignment. Partnership Act
To: Alexander Hunter
From: Bea Calm
Date: January 26th 2013
Subject: Analysis of Legal Issues
Thank You for choosing Bea Calm for your legal advice. This is what we came up with:
Facts:
Alexander Hunter and Brenda Ho had co-ownership of a number of real estate properties. They had hoped to acquire the property adjacent to one of their own properties known as ‘The Baby’. However the neighbours refused to sell it and the current Mayor David Miller was not conducive to divide single family properties into multiple lots.
In 2009, despite the change in their personal relationship they continued to carry their joint entrepreneurial ventures. In mid-2011, the owner of the adjacent property (Stanley Pomlinski) passed away, and the estate trustee was open to selling the property. From mid to late 2011, Alexander withheld the new information from Brenda regarding the sale of the Pomlinski property, even though at that time she had the funds to finance the partial acquisition of the property. After she lost her job, Alexander asked his father to buy the property for him as a trustee.
Since Brenda was facing financial troubles, Alexander purchased her share in ‘The Baby’ for $50,000 which was more than her initial investment. This prevented her from going bankrupt. However, he did not disclose to her his acquisition of the adjacent property, and the information that he had received from his inside contacts that Mayor Ford was more agreeable to dividing property into sub lots.
Through a lot of hard work, Alexander combined ‘The Baby’ with the property his father purchased, and subdivided it into lots. He then sold it for $800,000.
Alexander and Brenda still own a couple of properties together. However, Brenda and her husband Phillip are upset that Alexander made all this extra money. They think he is a fraud since he did not disclose all the information. Phillip has threatened him with violence. And they are considering taking legal action against Alexander.
From: Bea Calm
Date: January 26th 2013
Subject: Analysis of Legal Issues
Thank You for choosing Bea Calm for your legal advice. This is what we came up with:
Facts:
Alexander Hunter and Brenda Ho had co-ownership of a number of real estate properties. They had hoped to acquire the property adjacent to one of their own properties known as ‘The Baby’. However the neighbours refused to sell it and the current Mayor David Miller was not conducive to divide single family properties into multiple lots.
In 2009, despite the change in their personal relationship they continued to carry their joint entrepreneurial ventures. In mid-2011, the owner of the adjacent property (Stanley Pomlinski) passed away, and the estate trustee was open to selling the property. From mid to late 2011, Alexander withheld the new information from Brenda regarding the sale of the Pomlinski property, even though at that time she had the funds to finance the partial acquisition of the property. After she lost her job, Alexander asked his father to buy the property for him as a trustee.
Since Brenda was facing financial troubles, Alexander purchased her share in ‘The Baby’ for $50,000 which was more than her initial investment. This prevented her from going bankrupt. However, he did not disclose to her his acquisition of the adjacent property, and the information that he had received from his inside contacts that Mayor Ford was more agreeable to dividing property into sub lots.
Through a lot of hard work, Alexander combined ‘The Baby’ with the property his father purchased, and subdivided it into lots. He then sold it for $800,000.
Alexander and Brenda still own a couple of properties together. However, Brenda and her husband Phillip are upset that Alexander made all this extra money. They think he is a fraud since he did not disclose all the information. Phillip has threatened him with violence. And they are considering taking legal action against Alexander.