WIS. REAL ESTATE INV. TRUST v. WEINSTEIN

No. 85-1541.

781 F.2d 589 (1986)

WISCONSIN REAL ESTATE INVESTMENT TRUST, Plaintiff-Appellant, v. George WEINSTEIN, et al., Defendants-Appellees.

United States Court of Appeals, Seventh Circuit.

Decided January 13, 1986.


Attorney(s) appearing for the Case

Richard C. Ninneman, Whyte & Hirschboeck, Milwaukee, Wis., for plaintiff-appellant.

Irvin B. Charne, Charne, Glassner, Tehan, Clancy & Tatelman, Milwaukee, Wis., for defendants-appellees.

Before EASTERBROOK, Circuit Judge, ESCHBACH, Senior Circuit Judge, and GRANT, Senior District Judge.


EASTERBROOK, Circuit Judge.

A real estate investment trust is supervised by a board of trustees but run from day to day by independent contractors that evaluate, buy, sell, and manage property. In 1975 Wisconsin Real Estate Investment Trust (WREIT) hired REIT Property Managers, Ltd. (RPM) to conduct the trust's daily business. The officers of RPM were George Weinstein and his son Stanley, who also were partners in Weinstein Associates. RPM contracted with Weinstein...

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