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MOBILE COMPANIES v. AMERICAN STATES INS.

No. 90-CA-2086-MR.

823 S.W.2d 934 (1991)

MOBILE COMPANIES, INC., Appellant, v. AMERICAN STATES INSURANCE COMPANY, Appellee.

Court of Appeals of Kentucky.

Discretionary Review Denied by Supreme Court March 4, 1992.

Attorney(s) appearing for the Case

Gregory J. Bubalo, Jeanne R. Clemens, Ogden, Sturgill & Welch, Louisville, for appellant.

William S. Wetterer Jr., William S. Wetterer III, Louisville, for appellee.

Before DYCHE, GUDGEL and MILLER, JJ.

MILLER, Judge.

Mobile Companies, Inc. (Mobile), brings this appeal from a summary judgment entered in the Jefferson Circuit Court. Kentucky Rule of Civil Procedure (CR) 56.

The facts are these: In 1985, one Robert H. Goodwin purchased the entire capital stock of Mobile Industrial Services, Inc. (MIS), a wholly-owned subsidiary of Mobile. The purchase price was $100,000, of which Goodwin paid $10,000 cash and executed his promissory note to Mobile in the amount...

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