S & B Mining Co. v. Northern Commercial Co.

OPINION

RABINOWITZ, Chief Justice.

The central issue in this appeal is whether the superior court erred in granting summary judgment in favor of Northern Commercial Company against S & B Mining Company and William M. Swayne II.

I. FACTS AND PROCEEDINGS

In July of 1980, Baird & Williams Investment Advisors, Inc. (“B & W”) and William Swayne II, as general partners, formed S & B Mining Company (“S & B”) to conduct gold mining operations in Alaska. B & W is a Texas corporation whose principals were Kay Baird and Rodney Williams.

On February 20, 1981, S & B leased five Caterpillar tractors from…