Munderloh v. Seastrom

WOLLMAN, Chief Justice.

This complex breach of contract action arises out of a three party real estate transaction. In 1972, third party defendants, Sylvester and June Simon (the Simons), owned approximately four thousand acres of Potter County farmland. For several years they had contemplated exchanging their farm for a ranch in the Black Hills area that their son could manage more easily. Early in 1972, the Simons engaged a Mobridge real estate agent to sell their farm. They informed him that it was essential that the sale be ultimately accomplished by a tax-free exchange for Black Hills…