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Business Associations Keyed to Hamilton
711 Kings Highway Corp. v. F.I.M.’s Marine Repair Serv., Inc.
Facts
711 Kings Highway Corp. (711) (P) leased a movie theater to F.I.M. Marine Repair Serv., Inc. (F.I.M.) (D) for a period of 15 years. F.I.M. (D) put in a $5,000 security deposit. 711 (P) moved for a declaratory judgment alleging the lease to be invalid, or alternatively, recession on the grounds that the intended use of the property lay outside permissible business activates in the charter. F.I.M. (D) sought to dismiss claiming that 711 (D) could only assert their actions if they were a shareholder.
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