--- In AsburyPark@yahoogroups.com, "dfsavgny" <[EMAIL PROTECTED]> wrote:
> There should be absolutely no monetary connection at
> all between Fishman and our redevelopment experts.
There isn't.
> There is the
> possibility that Fishman would refuse to pay for something that is
> adverse to his position. While the possibility may be small, it is
> still there.
The possibility isn't small, it's non-existent. The City would still
have to pay Aaron whether Fishman honored his obligation to re-imburse
the City or not. Aaron's contract with the City is separate and
exists regardless of indemnity agreements with Fishman.
It's no different than any other insurace contract. If you crashed
into my car and caused $1,000.00 in damage, I'd sue you for the
$1,000.00, and whether you had insurance to pay me makes no
difference. I sue you not your insurance company, and the judge finds
you at fault, not your insurance company. The fact that you were
smart enough to have the insurance company cover you loss does not put
me in a conflict postion with you insurance carrier. I have no
relationship with your insurance carrier at all. In fact even if you
had insurance I could still have the Constable take the $1,000.00 from
your savings account after winning the suit.
Just as there is no financial connection whatsoever between me and
your insurance company, there is no financial connection between Jim
Aaron and Larry Fishman.
These kinds of arragements are so common in business that I'm
surprised you've never been a part of them yourself. You never had
two parties split you fee on an appraisal before?
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