IN RE LARSEN

Bankruptcy No. 485-00053-PKE, Adv. No. 90-4024-PKE.

122 B.R. 733 (1990)

In re Charles D. LARSEN, d/b/a Farmer, Trucker, and Jeraine (NMN) Larsen, Debtors. Charles D. LARSEN and Jeraine Larsen, Plaintiffs, v. METROPOLITAN LIFE INSURANCE COMPANY, Ivan Roth, and Gordon Roth, Defendants.

United States Bankruptcy Court, D. South Dakota.

December 21, 1990.


Attorney(s) appearing for the Case

David O. Carter, Sioux Falls, S.D., for plaintiffs.

Roger W. Damgaard, Woods, Fuller, Shultz & Smith, P.C., Sioux Falls, S.D., for Metropolitan Life Ins. Co.


MEMORANDUM DECISION

PEDER K. ECKER, Bankruptcy Judge.

ACTION

A case of first impression as to whether a warranty deed in escrow agreement may be given equitable adjustment considerations accorded an executory contract under South Dakota law, is before the Court. For reasons articulated below, the Court concludes that a deed in escrow is entitled to equitable adjustment treatment under South Dakota law. Restitution to the defaulting vendee debtor...

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