Court Opinion

ID: 9583250
Source: CourtListenerOpinion
Date Created: 2023-08-21 22:36:30.638349+00
Date Added: 2024-06-11T13:38:54.103074
License: Public Domain

Judge Wells
concurring in part and dissenting in part.
I concur in the portion of the majority opinion affirming summary judgment for the plaintiff on plaintiff’s claim for recovery under the note and deed of trust.
I concur in the portion of the majority opinion that affirms the order of the trial court in awarding counsel fees.
I dissent from the portion of the majority opinion with respect *600to summary judgment in plaintiffs’ favor on defendant’s counterclaim. The essence of defendant’s counterclaim was that in the purchase agreement, plaintiff promised to convey to defendant Goodson Farms, Inc. all of the outstanding capital stock of HyYield, Inc., a wholly-owned subsidiary of plaintiff, that plaintiff has failed and refused to convey said stock in Hy-Yield to Goodson Farms, Inc., and that plaintiff’s failure to do so has resulted in substantial damage to defendant. Defendant introduced materials to substantiate its version of its rights in the counterclaim. Plaintiff responded by asserting that the agreement to convey the stock in Hy-Yield had two conditions: “appropriate consent of Ameribrom, Inc. to the change in ownership of Hy-Yield, shall have been obtained in accordance with the terms of the Joint Venture Agreement between Hy-Yield and Ameribrom, Inc.”; and plaintiff “shall have been released from its guarantee of the obligations and duties of Hy-Yield under such joint venture agreement”. The material presented to the trial court raises a genuine issue of material fact as to (1) whether the joint venture agreement would in fact require any consent by Ameribrom, Inc.'to a change in ownership of HyYield and (2) whether the joint venture agreement had been terminated altogether prior to the institution of this law suit, rendering the guaranty condition of the purchase agreement moot. For these reasons it does not appear that defendant’s counterclaim was appropriate for disposition by summary judgment.