Ace Realty, Inc. v. Anderson

WALTERS, Chief Judge.

Nolan and Ruby Victor entered into an agreement with Alfred and Sadie Anderson providing for the sale of a one-half interest in a 640 acre farm to the Andersons. The agreement provided that the Andersons were to operate the farm, take three-fourths of the crop proceeds and half of the proceeds of cattle sales for themselves, and pay the Victors the remainder. The Victors subsequently transferred their interest to Ace Realty, Inc., a corporation which they had formed. Later, Ace Realty sued Alfred and Sadie Anderson, requesting an accounting of farm income, expenses and…