Shumann Investments, Inc. (Shumann), hired Pace Construction Corporation (Pace), a general contractor, to build Outlet World of

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Shumann Investments, Inc. (Shumann), hired Pace Construction Corporation (Pace), a general contractor, to build Outlet World of Pasco Country. In turn, Pace hired OBS Company, Inc. (OBS), a subcontractor, to perform the framing, drywall, insulation, and stucco work on the project. The contract between Pace and OBS stipulated, “Final payment shall not become due unless and until the following conditions precedent to final payment have been satisfied . . . (c) receipt of final payment for subcontractor’s work by contractor from owner.” When Shumann refused to pay Pace, Pace refused to pay OBS. OBS sued Pace to recover payment. Who wins? Pace Construction Corporation v. OBS Company, Inc., 531 So. 2d 737, 1988 Fla. App. Lexis 4020 (Court of Appeal of Florida)

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
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