Wilmington Investments, LLC leased a building from Baker Properties, Inc. The sole shareholder of Baker Properties, Inc.
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Wilmington Investments, LLC leased a building from Baker Properties, Inc. The sole shareholder of Baker Properties, Inc. is Joe Baker. During Hurricane Louisa, the building was damaged and flooded. Wilmington Investments, LLC spent $40,000 on repairs, with the promise from Joe Baker that he would repay them with money from the insurance claim. Instead, Mr. Baker used the $40,000 that he received from the insurance company on personal expenses. Apparently, it was common for him to use Baker Properties, Inc.'s money and assets as his own personal money and assets. Under what theory could Wilmington Investments, LLC pursue a claim?
Related Book For
Introduction To Federal Income Taxation In Canada
ISBN: 9781554965021
33rd Edition
Authors: Robert E. Beam, Stanley N. Laiken, James J. Barnett
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