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Assignment Due: March

 
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Waterstone
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Joined: 31 Jan 2005
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PostPosted: Sun Mar 15, 2015 9:27 am    Post subject: Assignment Due: March Reply with quote

Link formed Industry Corporation. Link was the sole shareholder. Although a certificate of incorporation was issued, no organizational meeting was held and no officers were elected. Industry issued no stock certificates because nothing was ever paid in to the corporation. Other corporate formalities were not observed. Link, on behalf of Industry, signed a lease to sublease commercial space in a building controlled by Kane Corporation. The first rental payment to Kane was made out of Link’s personal funds, and no further payments were made on the lease. Kane filed suit against Industry and obtained a judgment of $66,400 for unpaid rent. When the judgment was unpaid by Industry, Kane sued Polan individually, Under what theory will Kane sue and what result?
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