Assam v. Hauk

GERKEN, Circuit Judge.

Appellee Fred Assam (Assam) owned and managed the Fred Assam Real Estate Company in Sioux Falls, South Dakota. He employed appellee Jacob Fretty (Fretty) as a real estate salesman. In 1979, Ronald R. Kilmer (Kilmer) listed for sale a cafe in George, Iowa, with the Assam Company.

Fretty and appellant Bertrand J. Hauk (Hauk) had known each other for many years and had participated in a number of business deals together. Hauk owned and operated apartments and laundromats and repaired and remodeled buildings. Fretty suggested to Hauk that they purchase the cafe. Fretty would…