This post is not in the best of mood lately. A protege, failed in his commitment to complete the dp to seal the deal and the landowner talked to me last Wednesday, and this post said a deal to solve the problem would be proposed. This post did not get the immediate approval of the principal and was able to to send the proposed deal yesterday, It was a continuance with me taking the place of the proponent. Was able to send the proposal/solution only yesterday.
The land owner wants a cancellation of contract. However it could not be done verbally as there is a written contract. After a long discussion with the stake holders, here is what was proposed:
1. The land owner has to cancel the deal in writing as the contract is in writing There is a 30 day period within which the proponent must respond or else the recession take effect. The proponent may reject the rescission if he so desires
2. He may elect to ask for assignment a peaceful settlement immediate or long term;
3. A new proponent corporation may be established if the land owner merely wants to get rid of original proponent
4. During the 30 day period, the incorporators must seek funds for 1m to continue the project
The 1.1m that has been given will apply and just the same there will be continuance....
Will this be a good deal.
Should I feel responsible for the deal that I supported, endorsed but which somebody is responsible. This is a lesson learned. Some people are not trustworthy and still have to learn much on leadership and entrepreneurship.. Some observers say I should not bear the burden.
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