United States Eighth Circuit
Shelton v. Kennedy Funding, Inc., 09-1670
In a breach-of-contract and fraud action arising out of the sale of an Arkansas cemetery and involving the alleged breach of a loan agreement, judgment for plaintiff is affirmed where: 1) the Estoppel Certificate at issue did not fall within the surety prong of the Arkansas Statute of Frauds; 2) a reasonable jury could find the certificate's terms were sufficiently definite to impose an obligation upon defendant to place $675,000 in an escrow account for plaintiff's benefit in the event of a default on the loan; and 3) projections of future events or conduct could not support a fraud claim as a matter of law.
Appellate Information
- Decided 09/24/2010
- Published 09/24/2010
Judges
- http://www.ca8.uscourts.gov/opndir/10/09/091670P.pdf
Court
- United States Eighth Circuit