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Clifford Taylor, real estate entrepreneur in Indianapolis, owned a number of empty lots suitable for development within the city. He hired Drew Miller a real estate agent to sell one his lot for $750,000 within the next 30 days. Miller was to receive a 5% commission if he completed the sale.
The day following his appointment, Miller visited the office of Thomas Kinkaid. Kinkaid, a real estate developer, was willing to pay as much as $850,000 for the vacant lot, but promised to pay Miller a bonus of $25,000 if he could arrange for the sale of the lot for $750,000. Miller agreed.
The vacant lot was sold for $750,000. Taylor, however, refused to pay Miller the 5% commission and Kinkaid refused to pay the $25,000 bonus. Miller is now suing both Taylor and Kinkaid. What would be the result of this lawsuit? Please discuss.
The assignment in Law deals with the topic "Legal Environment of Business". A case study about Mary, a newly joined employee who is working in the USA and Europe. She faces few issues at her work place in Europe and tries to talk to her manager who s..
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Advise what tax consequences arise in respect of the payments.
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