Legal Opinion
American State Bank v. Adkins
South Dakota Supreme Court
Decided July 18, 1990No. 16904PublishedCited by 56 opinions
1Opinion of the Court
SABERS, Justice.
Robert and Martha Adkins (Adkins) appeal from a summary judgment on their counterclaim against American State Bank * (Bánk) for breach of an escrow agreement.
FACTS
In 1984, Adkins were the only shareholders of Central Finance Corporation (Central) and were looking for a buyer. The only substantial assets of Central were three subsidiaries: Central Acceptance Corporation, Cen/Lease, Inc., and First West Bank Leasing, Inc.
On June 1, 1984, Adkins agreed to sell Central to Deam Investments, Inc. (Deam Inv.). William Deam (Bill) was the majority shareholder and president of Deam…
2Cases cited22 opinions
- Malcolm v. MalcolmSouth Dakota Supreme Court · 1985
- Bego v. GordonSouth Dakota Supreme Court · 1987
- Groseth International, Inc. v. Tenneco, Inc.South Dakota Supreme Court · 1987
- Enchanted World Doll Museum v. BuskohlSouth Dakota Supreme Court · 1986
- Rushmore State Bank v. Kurylas, Inc.South Dakota Supreme Court · 1988
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3Cited by56 opinions
- Alverson v. Northwestern National Casualty Co.South Dakota Supreme Court · 1997
- Ward v. LangeSouth Dakota Supreme Court · 1996
- Schultz v. Rhode Island Hospital Trust National Bank, N.A.Court of Appeals for the First Circuit · 1996
- Burkons v. Ticor Title Ins. Co. of Cal.Arizona Supreme Court · 1991
- Rogers v. Allied Mutual Insurance Co.South Dakota Supreme Court · 1994
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