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J. Tiosejo Investment Corp. and Primetown Property Group, Inc. entered into a joint venture agreement to develop a condominium project, with J. Tiosejo contributing the land and Primetown undertaking the development. Primetown then entered into contracts to sell units to buyers Benjamin and Eleanor Ang. The project was not completed as promised, so the buyers sued both companies to rescind the contracts. The court ruled that as the agreement formed a partnership under law, both companies were jointly liable

Author

Courtney Tirol

Language

EN