Made an agreement to build condominiums

Assignment Help Supply Chain Management

Reference no: EM131686103

Demas Yan and Dong Fu made an agreement to build condominiums on Yan's land in the Chinatown section of San Francisco. Their agreement provided that Yan would own 75 percent and Fu 25 percent of the property. Yan was responsible for the initial $300,000 construction cost, and Fu the remainder. They agreed to share the proceeds of the sale or rental of the condominiums according to the ownership percentage. Fu, however, had sole power to decide whether to sell or to rent the property. Afterward, Fu assigned his interest under the agreement to Wei Suen. Thereafter, the condominiums were sold for a combined price of $2.3 million.Was Suen entitled to a share of the condominium sale proceeds?

Reference no: EM131686103

Questions Cloud

Compare and contrast the two sustainability statements : Compare and contrast the two sustainability statements. What is common between the two statements and what is different? What is missing?

Sustainable practice that you could implement for the naa : Which of the following is NOT a sustainable practice that you could implement for the NAA?

Software requires regular updating and improvement : The software requires regular updating and improvement. What would you suggest the LLP agreement include regarding the software? Why?

Small business or corporate business : If you were to run your own company would it be a small business or a corporate business, why?

Made an agreement to build condominiums : Demas Yan and Dong Fu made an agreement to build condominiums on Yan's land in the Chinatown section of San Francisco.

Potential sponsor for your service learning project : Write a detailed audience profile for a potential sponsor for your Service Learning Project. You will use this information in a later Assignment.

How do compensations laws directly-indirectly drive policy : How do compensations laws directly or indirectly drive policy?

Decision of the state district court finding upholding : Enforce the decision of the state district court finding upholding the discharge of the two whistleblowers?

Maximize the profit during the next production period : Formulate a linear program model to maximize the profit during the next production period.

User Account

All Pages