Appletree Square I Limited Partnership v. Investmark, Inc.

494 N.W.2d 889 (1993)

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Appletree Square I Limited Partnership v. Investmark, Inc.

Minnesota Court of Appeals
494 N.W.2d 889 (1993)

SC
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Facts

Appletree Square I Limited Partnership (plaintiff) bought an office building from Investmark, Inc. (defendant). Investmark, which designed and built the office building, held an interest in Appletree when the sale occurred. Appletree’s role in the Appletree-Investmark partnership was mainly financial. Investmark’s role was construction. Prior to the sale, Appletree requested from Investmark all information that would be material to the decision to purchase the building. Investmark granted Appletree permission to inspect the building and its books. Investmark did not disclose that the building was contaminated with asbestos. There was no clear evidence of asbestos in the building. Appletree brought suit for fraud. The trial court granted Investmark summary judgment. Appletree appealed.

Rule of Law

Issue

Holding and Reasoning (Crippen, J.)

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