Merdes v. Underwood

OPINION

RABINOWITZ, Chief Justice.

This is an appeal from a summary judgment granted to Richard V. Underwood against Edward A. Merdes based on an alleged agreement by Merdes to pay a debt owed by OHM, Inc. (OHM) to the Alaska Feed Company, an enterprise solely owned by Underwood. The principal issue is whether, as a matter of law, Merdes’ actions and representations estop him from denying that he agreed to pay interest on the debt in question.

I. BACKGROUND.

In about 1970, Merdes and his wife Norma, with Jim and Linda Harding, formed OHM, a subchapter S corporation, to operate a farming business…