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  5. 739 P.2d 767 (1987)
 

BERING STRAITS NATIVE CORP. v. BIRKLID

Nos. S-1818, S-1790.

739 P.2d 767 (1987)

BERING STRAITS NATIVE CORPORATION and Bering Straits Investment Co., Appellants, v. William BIRKLID, John and Grace Butrovich, Frank S. and Sophie M. Krize, Louis E. and Sophie M. Krize, Elkan J. Morris, Elkan and Ann Morris, Leo A. Schlotfeldt, Leo A. and Agnes H. Schlotfeldt as Trustees for Leo A. Schlotfeldt Trust, Leo Edward and Barbara Schlotfeldt, Sourdough Heating Inc., and Trustees's Services Inc., Appellees. BERING STRAITS NATIVE CORPORATION and Bering Straits Investment Co., Appellants, v. Ralph E. WHITMORE, Jr., and Trustee's Services Inc., Appellees.

Supreme Court of Alaska.

July 24, 1987.

Attorney(s) appearing for the Case

Bonnie Robson, Anchorage, for appellants.

David W. Oesting and James A. Tupper, Jr., Davis, Wright & Jones, Anchorage, for appellee Whitmore.

James M. Hackett, Fairbanks, for additional appellees.

Before RABINOWITZ, C.J., and BURKE, MATTHEWS and COMPTON, JJ.

OPINION

COMPTON, Justice.

This case arises out of the sale of shares of Alaska National Bank of the North (ANBN) stock to Bering Straits Investment Company (BSIC). The sellers, some of whom were directors of ANBN, sought judgment against BSIC and its guarantor, Bering Straits Native Corporation (BSNC), for amounts past due. BSIC defended on the ground that it was fraudulently induced into purchasing the stock. The trial court granted summary judgments to...

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