FIRST BANK v. HABERER DAIRY & FARM EQUIP.

Nos. 15356, 15512 and 15513.

412 N.W.2d 866 (1987)

FIRST BANK OF SOUTH DAKOTA (National Association, Aberdeen, South Dakota, a banking corporation, Plaintiff and Appellee, v. HABERER DAIRY & FARM EQUIPMENT, INC., a corporation, Carney Haberer, Edwin Van Meter, and Mildred Van Meter, Defendants, and Merle D. Haberer and Florence Haberer, Defendants and Appellants. FIRST BANK OF SOUTH DAKOTA (National Association, Aberdeen, South Dakota, a banking corporation, Plaintiff and Appellee, v. HABERER DAIRY & FARM EQUIPMENT, INC., a corporation, and Carney Haberer, Defendants, and Edwin Van Meter and Mildred Van Meter, Defendants and Appellants, and Merle D. Haberer and Florence Haberer, Defendants and Appellants.

Supreme Court of South Dakota.

Decided September 16, 1987.


Attorney(s) appearing for the Case

Carlyle E. Richards of Carlyle E. Richards, P.C., Aberdeen, for plaintiff and appellee First Bank.

H.I. King, III of Tonner & Tobin, Aberdeen, for defendants and appellants Haberers.

Peter J. Pagones and Rory King of Siegel, Barnett & Schutz, Aberdeen, for defendants and appellants Van Meters.


HENDERSON, Justice.

PROCEDURAL HISTORY/ISSUES

Plaintiff-appellee, First Bank of South Dakota (Bank), loaned $125,000.00 to Haberer Dairy & Farm Equipment, Incorporated (Haberer Dairy). A promissory note was executed and Bank received a security interest in Haberer Dairy equipment assets, certain property of the Haberer family and two certificates of deposit held by Edwin and Mildred Van Meter, defendants-appellants (Van Meters). Upon default, Bank sued...

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