Question
Bill and Sally decide to buy a house. The house costs $400,000. Bill pays $300,000 and Sally pays $100,000 to the purchase price. However, the
Bill and Sally decide to buy a house. The house costs $400,000. Bill pays $300,000 and Sally pays $100,000 to the purchase price. However, the house is registered in Bill's sole name as the legal owner. He sells the house for $1,000,000.
Does Sally have an interest in the sale proceeds that Bill received for the property? Give reasons to support your answer.
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Business Law Text and Cases
Authors: Kenneth W. Clarkson, Roger LeRoy Miller, Gaylord A. Jentz, F
11th Edition
324655223, 978-0324655223
