Kenneth L. Ramsey v. Dapple Stud, LLC

Summary

The court held that Ramsey and Hickstead had enforceable consignment contracts with Dapple Stud because the parties’ course of dealing established definite terms and Akers, as Dapple Stud’s manager, had statutory authority to bind the company. Dapple Stud breached those contracts by failing to remit the sellers’ net proceeds, and the sellers’ fiduciary-duty claims could proceed, but their untimely claims against Dapple Sales, Akers, and Mike Akers, Inc. remained barred by the applicable statutes of limitations. The court therefore reversed the summary judgments and restitution orders in part, affirmed the limitations rulings in part, and remanded for further proceedings.