Baxter v. Stubbs

CROCKETT, Chief Justice:

Plaintiff, the owner of a parcel of commercial property located in Utah County, entered into an earnest money agreement for its sale to the defendant, Thomas C. Stubbs. Subsequently, an addendum to that agreement was executed between plaintiff and Stubbs whereby plaintiff was granted a 25 percent “... limited position in the limited partnership that is taking title.” Thereafter, plaintiff executed a warranty deed conveying title to the subject property to the defendant Squaw Peak, Inc., a corporation established by Stubbs and the defendant Horton. The deed contained no…