Cardiac Thoracic & Vascular Surgery, P.A. Profit Sharing Trust v. Bond

Darrell D. Dover, Special Chief Justice.

In August 1988, Earl Bond, apparently a dabbler in land development as well as moving producing, contacted Dr. Donald L. Patrick, a Ft. Smith physician who had invested in some of Bond’s movie ventures, relative to a plan Bond had conceived for the development of a 11.62 acre parcel of land in North Little Rock.

Earlier, in May 1988, Bond had entered into a purchase contract with National Bank of Arkansas (NBA), the owner of the land, providing for the purchase of the land at a price of $945,000 to be paid $445,000 in cash with a promissory note secured…