Kramer v. William F. Murphy Self-Declaration of Trust

[¶ 24.] I agree with the majority’s conclusion that “[t]he Disbursement Agreement, Loan Agreement, Promissory Note, and Balloon Note [may] be construed as a single contract involving the same transaction.” See supra ¶ 15. But this “contract” contained the terms for: Tri-State Ethanol’s agreement to acquire White Rock; Murphy’s agreement to finance the TriState Ethanol-White Rock transaction; and, Murphy’s agreement with others to distribute the loan proceeds. Therefore, the contract involved independent obligations and rights of multiple parties, and obviously, each party was not subject to…