RESERVES DEVELOPMENT CORPORATION v. ESHAM

C.A. No. 07C-12-123 PLA.

THE RESERVES DEVELOPMENT CORPORATION and THE RESERVES MANAGEMENT CORPORATION, Plaintiffs, v. WILLIAM ESHAM, Defendant.

Superior Court of Delaware, New Castle County.

Decided: November 10, 2009.


Attorney(s) appearing for the Case

Steven Schwartz, Esq., SCHWARTZ & SCHWARTZ, Dover, Delaware, Attorney for Plaintiffs.

Richard E. Berl, Jr., Esq., SMITH O'DONNELL FEINBERG & BERL, LLP, Georgetown, Delaware, Attorney for Defendant.


Peggy L. Ableman, Judge

I. Introduction

In an arrangement that most first-year law students could have identified as potentially problematic, Defendant William Esham ("Esham") entered into an agreement with Plaintiffs for the purchase of an undeveloped lot, despite the fact that he planned for a limited-liability company to take title to the property. At settlement, Plaintiffs executed a deed in favor of a limited-liability company...

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