In exchange for a securing three million dollar investment from Mobcap; in 2010, Infusion agreed in the Note Purchase Agreement that Mobcap could have a seat on the board of directors of Infusion and that the Mobcap, through the Board, would be allowed to approve any expenditures of its investment over ARM 100,000 (about $32,790). However, in Seep 2012, Infusion decided to end run its contractual obligations and cut Mobcap out of the approval process by making daily fun transfer Just ARM 1,000 (about $299. ) under the threshold for which Map’s approval was required, but in combination such daily transfer greatly exceed the ARM 100,000 approval threshold. B) This case is based upon the breach of contract. C) This case is related to the operation of the business because the action of Infusion that proceeding to take funds without Map’s approval could probably cause damages for the business of Mobcap. ) The Court is asked to issue a writ of possession, order Infusion to turn over collateral up to the value of Map’s interest, order that Mobcap need post no undertaking, and order the Infusion post an undertaking should it desire to stop Mobcap from taking possession of property up to the value of its collateral. 6. The decision at this hearing was not reached. Based on the evidence provided by Mobcap, however, if proven to be valid, it is likely that the court will require Infusion to either pay a penalty fee or turn over properties or collateral up to the value of Map’s interest. 7.
The court is an old and tall building on a narrow street. Behind the low and strait entrance, polices are checking the visitors. The court has sixteen departments for civil and probate cases. The courtroom is a serious and strict place. The room is a big living room with five to seven row seats near the entrance. In the front of those seats, there is a little station for armed officer. The Judge had al case’s information on hands before a case was called. When the defendants and plaintiffs were called, they go up to the front where there are two tables for “plaintiff’ on the right side and “defendant” on the left side.
Also, there is another station for reporter, who never stopped typing during the trial. 8. Based upon my observation, the setting of the court is very formal, and the atmosphere inside the courtroom is very quieting, serious, and tense. I was impressed by the way that the court was organized, and how a real courtroom looks like. The securities always checked anyone who entered the court to make sure that no weapon is allowed. Moreover, police officers presented in the court section to make sure all orders were being followed. Court report By Hung-chuckle