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DULAN v. MONTANA NAT. BANK OF ROUNDUP

No. 82-253.

661 P.2d 28 (1983)

Peter A. DULAN, Jr., Plaintiff and Appellant, v. MONTANA NATIONAL BANK OF ROUNDUP, f/k/a Miners & Merchants Bank of Roundup, Defendant and Respondent.

Supreme Court of Montana.

Decided March 24, 1983.

Attorney(s) appearing for the Case

Terry L. Seiffert, Billings, for plaintiff and appellant.

K. Robert Foster, Lewistown, for defendant and respondent.

HASWELL, Chief Justice.

Appellant bought Shanon Studios, a Billings photography business, in 1964 and in 1966 incorporated under Shanon Studios, Inc. On June 2, 1971, he executed a promissory note for $7,500 with respondent and as collateral assigned the stock of the corporation.

On May 22, 1972, appellant agreed to sell Shanon Studios, Inc., to Gerald L. Wolfe for $18,000. This agreement contained the following paragraph...

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