Kennedy v. Boles Investments, Inc.

SMITH, Justice.

J. Gregory Kennedy appeals from a judgment in favor of Boles Investments, Inc. (“BI”), and Ian Boles (“Boles”) in an action stemming from the sale of real property in Baldwin County. We affirm.

7. Facts and Procedural History

Kennedy owned a 1.55-acre parcel of beachfront property in Orange Beach (“the property”). In April 2004, Boles and Kennedy entered into a contract for Boles to purchase the property (“the purchase agreement”). Before the closing, on July 2, 2004, Boles assigned the contract to BI, a Delaware corporation he solely owned.

The purchase price of the property was…