Sharma v. Jaisinghani CA2/5
Plaintiffs in this case—a married couple and associated Limited Liability Companies—prevailed after a jury trial on their claim that they had a joint venture with defendant to develop and sell a luxury property in Malibu, splitting the profits. According to plaintiffs, they were to provide the property and construct a home on it, while defendant was to finance the construction. Title was transferred from an LLC to defendant in order for him to obtain financing. After the home was built, defendant claimed there was no such joint venture, and instead the property was being built for his benefit. The jury awarded plaintiffs $1.1 million on their breach of contract and negligent misrepresentation claims, and the trial court thereafter ruled that defendant will keep the property without further claim by plaintiffs. Defendant challenges several rulings. We reject all his arguments.
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