Joseph Bitter and two brothers, Joseph Smith and Steve Smith, became good friends. As a result of their friendship, they decided to go into the tavern business together. The parties bought an existing tavern and took title in the name of their corporation, Gomer’s, Inc. Soon, the brothers began feuding with Bitter and, because of their combined twothirds interest, assumed virtual control of the business. In response, Bitter claimed that he and the brothers (the promoters), not the corporation, held title to the real estate. He claimed that Gomer’s, Inc. could not own the building because the corporation was not yet in existence when the contract was made. Do the promoters, rather than the corporation, own the building?