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KARLSTAD STATE BANK v. FRITSCHE

No. C7-86-347.

392 N.W.2d 615 (1986)

KARLSTAD STATE BANK, Respondent, v. Louis A. FRITSCHE, et al., Appellants. Louis A. FRITSCHE, et al., Appellants, v. KARLSTAD STATE BANK, Stuart Folland, Production Credit Association of Grand Forks, Respondents. KARLSTAD STATE BANK, Respondent, v. NORTHWEST PINZGAUER BREEDERS, LTD., et al., Appellants.

Court of Appeals of Minnesota.

August 26, 1986.

Attorney(s) appearing for the Case

William A. Schlossman, Jr., Vogel, Brantner, Kelly, Knutson, Weir & Bye, Ltd., Fargo, N.D., for Karlstad State Bank.

Benjamin S. Houge, Brooklyn Center, for Louis A. Fritsche, and Northwest Pinzgauer Breeders, Ltd., et al.

Andrew Danielson, Minneapolis, for Stuart Folland.

Paula D. Osborn, W. Joseph Bruckner, Oppenheimer, Wolff, Foster, Shepard and Donnelly, St. Paul, for Production Credit Ass'n of Grand Forks.

Heard, considered and decided by RANDALL, P.J., and LANSING and HUSPENI, JJ.

OPINION

LANSING, Judge.

Louis and Jeanette Fritsche appeal the trial court's grant of summary judgment to the respondents in this action for negligence and fraud in the financing of the Fritsches' cattle business. We affirm.

FACTS

In 1974 Louis Fritsche, a veterinarian, and Jeanette Fritsche, a teacher, ventured into the business of breeding Pinzgauer cattle, an Austrian breed that is relatively rare in the United States. To finance acquisition...

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