Farmers Feed & Seed, Inc. v. Magnum Enterprises, Inc.

DUNN, Justice.

This is an appeal from a summary judgment granted to the plaintiff, Farmer’s Feed & Seed, Inc. (Feed & Seed), in an action to recover on a contract. We reverse and remand.

Feed & Seed is a South Dakota corporation engaged in the processing of grain and the selling of feed in Sturgis and Rapid City, South Dakota. Magnum Enterprises, Inc. (Magnum), is a South Dakota corporation engaged in the production and marketing of agricultural products.

On July 6, 1981, Magnum offered to purchase, for a sum of $1,423,000, all of the real property, equipment, inventory, and shares of Feed &…