Davis Adv. Sh. No. 31
S.E. 2d

In The Supreme Court

Crestwood Golf Club,

Inc., Crestwood

Partnership, John Boyd,

Claude McCain, Walter

Bryant and George

McCain, Respondents,

v.

Harry H. Potter,

Marguerite Potter and

Kevin E. Potter, Appellants.

Crestwood Golf Club, Inc.

Crestwood Partnership,

John Boyd, Claude

McCain, Walter Bryant

and George McCain, Respondents,

v.

Theodore Potter, Dale

Potter, South Carolina

National Bank, the

Crestwood County Club,

Inc. And Kevin E. Potter

Of which Theodore, Dale and

Kevin Potter are Appellants.

Appeal From Bamberg County

Thomas J. Ervin, Judge

O. Davie Burgdorf, Master-in-Equity

p. 27

Heard June 17, 1997 - Filed November 10, 1997

AFFIRMED

Kevin, Theodore, Harry, Dale. and Marguerite

Potter, all of Millville, N.J., Pro Se Appellants.

James Mosteller, III, of Blackville; and James

Nance, of Henderson & Salley, of Aiken, for

Respondents.

TOAL, A.J.: This dispute stems from the sale of a golf course. The

appellants raise numerous issues on appeal. We affirm.

FACTUAL/PROCEDURAL BACKGROUND

The facts in this case are somewhat complicated. A summary of

relevant facts, parties, and transactions follows:

A. Underlying Transaction (Sale OF CRESTWOOD GOLF COURSE)

On April 3, 1991, Theodore and Dale Potter ("Purchasers") entered into

an agreement with Crestwood Partnership ("Partnership") and Crestwood Golf

Club, Inc. ("Golf Club")(collectively "Sellers") to purchase certain real property

and improvements ("Golf Course") in Bamberg County, as well as machinery,

equipment, membership lists, and golf carts. A golf course and country club

(restaurant and bar) were located on the property. According to the sales

agreement, the total sales price for Golf Course was $412,315.22. ¹

An addendum to the sales agreement stated that of the purchase price,

$60,000 represented the price for the land itself, and $250,000 represented

the price for buildings and improvements. The sales agreement itself did not

state the price for the personalty at issue, which included, among other

things, equipment, membership lists, and golf carts. However, the bill of sale

$417,516.48, which consisted of the contract price plus various closing costs.

p. 28

for the personalty stated the purchase price was $102,305.22. The total of

these figures is $412,305.22, ten dollars less than the total purchase price.

However, the sales agreement separately valued the membership lists at ten

dollars, and we assume that accounts for the discrepancy in the figures and

the purchase price.

At closing, Purchasers paid Sellers $125,201.26, leaving a balance of

$292,315.22. Purchasers obtained financing and other credits for the rest of

the amount. The various sources of the financing will be discussed below.

Although the sales agreement was between Purchasers, Partnership,

and Golf Club, subsequent instruments clarify what portion of the property

Partnership had owned and what portion Golf Club had owned. The deed of

the real property and improvements was executed on April 3, 1991.

Specifically, Partnership alone deeded the real property and improvements

to Purchasers. Golf Club apparently never owned any portion of th