Question: 3 7 - 8 . Partnership Requirements. Sunil Kumar Mehta wished to acquire West Oaks Mall in Houston, Texas, but needed $ 1 0 million

37 - 8 .

Partnership Requirements. Sunil Kumar Mehta wished to acquire West Oaks Mall in Houston, Texas, but needed $

10

million in funding to do so

.

Through his bank, he met Mohammed Ahmed, a successful local businessperson. Ahmed was not interested in lending funds to Mehta but indicated that he would consider a partnership deal. Verbally, Mehta agreed to a

\frac{65}{35}

split, with Mehta having the majority stake. Unbeknownst to Ahmed, Mehta convinced the seller that he and his son had sufficient funds to finance the deal themselves. Mehta secretly proceeded to seek alternative financing so that he could usurp the opportunity for himself. Then Mehta told Ahmed he no longer wanted to jointly acquire the shopping mall as partners. Ahmed sued Mehta for breach of fiduciary

3 7 - 8 . Partnership Requirements. Sunil Kumar

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