Raza M. Devji v. Christopher B. Keller, Mark Keller, and Kibo Development Corporation

CourtCourt of Appeals of Texas
DecidedDecember 21, 2000
Docket03-99-00436-CV
StatusPublished

This text of Raza M. Devji v. Christopher B. Keller, Mark Keller, and Kibo Development Corporation (Raza M. Devji v. Christopher B. Keller, Mark Keller, and Kibo Development Corporation) is published on Counsel Stack Legal Research, covering Court of Appeals of Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Raza M. Devji v. Christopher B. Keller, Mark Keller, and Kibo Development Corporation, (Tex. Ct. App. 2000).

Opinion

TEXAS COURT OF APPEALS, THIRD DISTRICT, AT AUSTIN



NO. 03-99-00436-CV

Raza M. Devji, Appellant


v.


Christopher B. Keller, Mark Keller, and Kibo Development Corporation, Appellees



FROM THE DISTRICT COURT OF TRAVIS COUNTY, 126TH JUDICIAL DISTRICT

NO. 98-09746, HONORABLE LORA J. LIVINGSTON, JUDGE PRESIDING


Raza Devji, pro se, appeals following a jury trial.(1) The district court submitted questions to the jury regarding claims of breach of contract and fraud. The district court rendered judgment on the jury's verdict in favor of the Kellers and Kibo Development Corporation (Kibo). Raising seventeen points of error, Devji complains about several of the jury questions and answers. We will affirm the district court's judgment.

Background

We will outline the facts leading to this litigation by reviewing the reporter's record and the parties' briefs. In December 1995, Devji, a Canadian citizen, retained Chris Keller, an attorney licensed in Texas, to represent his Canadian corporations that were creditors of an Austin corporation. In 1996, Devji investigated the possibility of developing residential projects on the outskirts of Austin. His plan was to purchase large tracts of farmland, subdivide them into one-half and one acre residential lots, build roads, waterlines, and septic tanks, and then install manufactured homes on permanent foundations. In February 1997, Devji instructed Chris Keller to incorporate Kibo as well as a number of subsidiaries. In March, Devji purchased all issued shares of Kibo for $1000, and was named Director, Chief Executive Officer, and Treasurer. Devji was to be solely responsible for the day-to-day management of the corporation. Chris Keller was appointed Director, President and Secretary. Soon after incorporating Kibo and several subsidiaries, Taylor Estates, Inc., a Kibo subsidiary, contracted to purchase 320 acres near Taylor with staggered closings. In September 1997, by a letter agreement, a friend of Devji's, Lina Thomas, transferred to Kibo free and clear particularly described property in Carlsbad, California, (California property) in exchange for an interest in Kibo's profits.

In January 1998, Devji and Chris Keller executed a shareholder agreement (January agreement). They agreed that Keller would provide free legal consultations and would apply for a secured loan of $240,000. The proceeds of the loan would be used exclusively for the benefit of Kibo and the subsidiaries. Devji and Kibo agreed to indemnify and hold Chris Keller harmless from and against any claims or expenses in connection with the loan. Under the agreement, as security for the loan, Kibo would transfer to Keller free and clear the California property. The January agreement's conditions regarding the California property were that, from the time of the loan until repayment, all of the net income from the California property would be used to repay the loan. Once the loan was repaid, Keller would convey the property back to Kibo, or to any entity that Kibo directed. Further, the January agreement provided that in the event of a default in repayment of the loan, or if Chris Keller reasonably concluded that default was likely, Chris Keller could cause the property to be sold in a reasonable manner and the proceeds applied first to the expenses of the sale and second to Keller's expenses related to the sale. Additionally, in order to secure Keller against default in repaying the loan, Kibo granted Chris Keller a lien against various properties in Texas. Following the terms of the January agreement, Chris Keller obtained a secured loan in his name for $214,500. The proceeds were deposited in a trust account and used to pay Kibo's expenses.

Taylor Estates, Inc., closed on approximately 63 acres out of the 320 Taylor property acres it had contracted to purchase. Other subsidiaries had also paid earnest money on 125 acres in Niederwald, and approximately 77 acres near Creedmore. Additionally, Kibo contracted with Professional Design Group to obtain plat approvals for the proposed residential communities.

In February and March 1998, Kibo closed on the 125 acres near Niederwald and Taylor Estates received plat approval for six one-acre lots out of the Taylor property. The subsidiary, Taylor Estates, entered into a contract to purchase 58 acres near Hutto which closed in April. Elgin Estates, Inc., another subsidiary of Kibo, entered into a contract to purchase 175 acres near Elgin.

In April 1998, Devji, Thomas, Chris Keller and Mark Keller executed a second shareholder's agreement (April agreement). This agreement "ratified and confirmed" the January Agreement. The Kellers were to each invest $50,000 in Kibo and to personally guarantee any debt Kibo incurred as determined necessary by Kibo's board of directors. Additionally, Mark Keller was to obtain financing for eighty percent of the $100,000 purchase price of the Creedmore property.

After executing the April agreement, the shareholders were shown an 80-acre parcel of land. All agreed that Niederwald Estates, Inc., a Kibo subsidiary, would enter a contract to purchase the land with a closing date of September 1, 1998. After executing the contract, the group formed Huber Estates, Inc., with Devji and Chris Keller as directors of that subsidiary.

The Kellers each contributed $50,000. Despite their efforts, the Kellers were unable to obtain financing for the Creedmore property. Additionally, Kibo was unable to sell any property. Kibo's sales manager suffered a heart attack shortly after he was hired in March 1998 and never sold any property. At the time of the April agreement, Kibo had six subdivided lots supplied with water in Taylor Estates and ten subdivided lots in the Hutto property. There were two pieces of property under contract, the Huber property and the Creedmore property, both with closing dates of September 1, 1998.

Not long after executing the April agreement, Kibo had insufficient funds to develop its properties and operate day-to-day. The Kellers asked Devji and Thomas to contribute funds toward the cost of the Huber property, but they refused. In May, Devji suggested canceling the Elgin contract during the cancellation period in order to get the $15,000 earnest money back. Mark Keller suggested that if he could not obtain financing for both the Creedmore and the Huber properties it was better to purchase the Huber property and let the Creedmore property go. Devji agreed that if they could not get financing for the Creedmore property it would have to be sold.

By July, however, Devji was angry with Chris Keller for refusing to contribute additional funds for the Huber property, accused Chris Keller of breaching the parties' agreement, and threatened to sue him. The Kellers suggested that they sell the land under contract to generate cash. Devji refused, threatened to sue the Kellers if they attempted to sell the land, told them that he expected them to close both the Creedmore and Elgin contracts to fulfill their obligations under the April agreement, and refused to contribute any funds for operating expenses.

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Bluebook (online)
Raza M. Devji v. Christopher B. Keller, Mark Keller, and Kibo Development Corporation, Counsel Stack Legal Research, https://law.counselstack.com/opinion/raza-m-devji-v-christopher-b-keller-mark-keller-an-texapp-2000.