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TIME OUT, INC. v. KARRAS

Nos. 16991, 16999.

469 N.W.2d 380 (1991)

TIME OUT, INC., and Alpha Corporation, Plaintiff and Appellee, v. Chris KARRAS, Defendant and Third Party Plaintiff and Appellant, v. Gus CUSULOS, Third Party Defendant and Appellee.

Supreme Court of South Dakota.

Decided April 24, 1991.

Rehearing Denied May 22, 1991.

Attorney(s) appearing for the Case

Steven Sanford, Cadwell, Sanford & Deibert, Sioux Falls, for plaintiff and appellee.

Scott G. Hoy, Carlsen & Hoy, Sioux Falls, for defendant and third party plaintiff and appellant.

John L. Wilds, Sioux Falls, for third party defendant and appellee.

WUEST, Justice.

In 1975, Chris Karras (Karras) learned the Time Out restaurant and lounge in Sioux Falls, South Dakota was for sale. After some negotiations, Karras offered to purchase the business for $105,000. This offer was accepted. Karras was only interested in the restaurant portion of the business, however, and did not want to operate the bar. He approached Chris Christopolos (Christopolos) about purchasing the lounge. The parties agreed that Christopolos would...

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