Question
Facts: A,B & C form a corporationin New York for the purpose of developing and renting office space to professionals inSyosset. ABC Rentals currently owns
Facts:
A,B & C form a corporationin New York for the purpose of developing and renting office space to professionals inSyosset. ABC Rentals currently owns 3 buildings and are looking to purchase a 4th building in the area.
D. E & B own a commercial cleaning corporation "Office Clean Up"whose purpose is to provide regular cleaning services to professional office buildings.
B suggests to A & C that they hire Office CleanUp to clean all of their office buildings and any buildings they acquire in the future. B presents A & C with a contract that spells out the terms of th contract which are at fair market value in the area at the time of the contract. A & C vote to adoptthe contract with B abstaining from the vote because he negotiated the contract.
C finds an office building in Jericho that he thinks the corporation might be able to use. He buys the building with his own personal funds and then offers to sell it to ABC rentals.
A figures out that B is on the board of Office CleanUp and that C bought the building without telling ABC rentals first about the opportunity.
A wants to get out of the contract with Office Clean Up.
DidC do anything wrong?
What can A do?
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