Legal Question in Business Law in California
I need help to determine what type of contract should i make. I am from Mongolian and work for a company as lawyer. My company (we have a shopping center) is about to cooperate with a Korean company in purchasing parking controller system supply, installation. Due to a shortage of finance, Korean company has made an offer to us. They supply parking controlling system and equipments first. Lets say the total contract price is USD 100 000. and we dont pay anything in advance or later. They supply and install them, do all the parking management and collect all the entry fees paid by the cars entered to the shopping center until they get their 100 000 back along with 40 percent profit.
So my question is what type of legal relation is this and what type of contract do we have to make? at least legal term of it.
Thank you very much
1 Answer from Attorneys
What matters is what the contract says, not how it's described. Your company should hire an American lawyer to draft the appropriate agreement.
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