COMM 431 Study Guide - Final Guide: Improper Conduct, Legal Personality, Signify
Document Summary
Facts: mr. drabinsky is the sold shareholder of 1080409 on ltd. He wanted to sell a property for ,000 and would sell the architectural drawings at a separate price allocation. Mr. hunter, owner of adjacent property, wanted to purchase the property. All the early offers were made in the name of james hunter in trust. Hunter was going to close the transaction in trust and then assign it to furama investments ltd. (furama). Furama investment company limited had originally been incorporated in alberta but lost its charter in 1985. No such entity was in existence when hunter agreed to purchase agreement. Drabinsky knew nothing of furama other than believing the company is solvent and financially capable to close the deal. Hunter did not tell drabinsky the company did not exist. When entering the agreement, hunter thought the ab company was called furama. He also thought he could incorporate the inactive company in o. n.
