Severson v. Elberon Elevator, Inc.

Eugene Severson (plaintiff), who operated several grain elevators, orally agreed with Robert Mosebach, co-owner of Elberon Elevator (EE) (defendant), to buy all of EE's physical assets — including owned and rented land, buildings, grain inventory, vehicles, and equipment — for $50,000; when Mosebach and his co-owner Blythe backed out, Severson sued for specific performance, and the trial court ordered EE to complete the sale. EE appealed, arguing Severson needed to first show that money damages would be an inadequate remedy before a court could order specific performance.