Riverbend Ford-Mercury, Inc. v. Kirksey

Beasley, Judge.

Defendant Riverbend appeals the grant of plaintiff Kirksey’s motion for summary judgment.

Kirksey, the sole shareholder of Kirksey Ford Sales, Inc., agreed on June 1,1984, to sell the stock to several individuals also named as defendants in his suit. They, in turn, formed Riverbend to operate the business. From the time of the agreement to sell until the closing on September 7, defendants fully participated in the operation of Kirksey Ford. Prior to the purchase agreement, Kirksey Ford owed Kirksey money which he had loaned to the corporation. At the closing, Riverbend paid the…