Vreugdenhil v. First Bank of South Dakota, N.A.

WUEST, Justice.

Edwin and Loretta Vreugdenhil appeal from an order denying their claim for exemplary damages. We reverse and remand.

In 1972, Ed Vreugdenhil (Ed) purchased a one-half interest in Menning Implement Company (Menning) of Corsica, South Dakota. Ed and Sidney Hoekstra (Hoekstra), the owner of the remaining one-half interest, operated the business together until 1979 when Ed purchased Hoekstra’s interest in Menning. A portion of the down-payment for this purchase was financed by First Bank of South Dakota, N.A., (First Bank) Corsica, South Dakota.1 First Bank financed the operation…