BORGEN v. KLEMM

No. 85-1437.

391 N.W.2d 252 (1986)

Arden L. BORGEN and Cassaday—Borgen Technologies, Ltd., Appellees, v. Virginia KLEMM and John Klemm, Appellants.

Supreme Court of Iowa.

Rehearing Denied August 20, 1986.


Attorney(s) appearing for the Case

Paul R. Huscher, Des Moines, for appellants.

Larry Seckington and Mark R. Schuling, of Brick, Seckington, Bowers, Swartz & Gentry, P.C., Des Moines, for appellees.

Considered by McGIVERIN, P.J., SCHULTZ, CARTER, WOLLE, and LAVORATO, JJ.


CARTER, Justice.

Defendants, Virginia Klemm and John Klemm, who are the parties or beneficiaries under a written agreement wherein Virginia Klemm sold all the stock of a closely held corporation to plaintiff, Arden L. Borgen, appeal from a declaratory judgment requiring indemnification of the buyers and the corporation for certain federal income tax liabilities of the corporation antedating the sale. Upon our review of the record, we affirm the judgment of the district...

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