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Contracts Keyed to Summers
Hield v. Thyberg
Facts
On June 10, 1977, Willard R. Hield (Plaintiff) sold his interest in a corporation to his partner, Edwin R. Thyberg (Defendant). The parties executed an agreement (Assignment) that provided that Plaintiff was transferring his interest in consideration for $15,000 from Defendant. The $ 15,000 was paid at the time the assignment was signed by respondent. Plaintiff transferred his stock certificates to Defendant. Plaintiff sued Defendant, alleging that appellant refused to perform under the contract. At trial, Plaintiff sought to introduce parol evidence showing that Defendant agreed to pay an additional $35,000 in the form of a promissory note, in addition to the $15,000 stated in the Assignment. Defendant’s objection to the parol evidence was overruled. Plaintiff testified that the parties had not listed the additional $35,000 as consideration in the Assignment because they did not want to prejudice a loan for which Defendant intended to apply. The trial court ruled in favor of Plaintiff and judgment was entered for $35,000 plus interest.
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