THE ETHICAL DIMENSION What might have been some of the reasons that 607 South Pa

THE ETHICAL DIMENSION What might have been some of the reasons that 607 South Park refused to sell the property to 02 Development?In 2004 607 South Park LLC entered into a written agreement to sell Park Plaza Hotel to 607 Park View Associates Ltd. for $8.7 million. The general partner of 607 Park View Associates was Creative Environments of Hollywood Inc. In 2005 Creative Environments assigned the rights to the hotel purchase to another company 02 Development LLC. At the time 02 Development did not yet exist; it was legally created several months later. When 607 South Park subsequently refused to sell the hotel 02 Development sued 607 South Park for breach of the hotel purchase agreement. 607 South Park moved for summary judgment arguing that no enforceable contract existed because at the time of the assignment 02 Development did not yet legally exist. Furthermore 607 South Park argued that 02 Development suffered no damages because it was ?onot ready willing and able to fund the purchase of the hotel.?? The trial court granted the motion and entered judgment in favor of 607 South Park. 02 Development appealed.