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AUSTIN FARM CENTER v. AUSTIN GRAIN CO.

No. C2-87-1464.

418 N.W.2d 181 (1988)

AUSTIN FARM CENTER, INC., Appellant, v. AUSTIN GRAIN CO., Huntting Elevator Co., Respondents, and AUSTIN GRAIN CO., Third-Party Plaintiff, v. Lester WARD, et al., Third-Party Defendants, and AUSTIN FARM CENTER, INC., Appellant, v. Lester H. WARD, et al., Respondents.

Court of Appeals of Minnesota.

January 12, 1988.

Attorney(s) appearing for the Case

Lee W. Mosher, Golden Valley, for Austin Farm Center, Inc.

Gerald S. Weinrich, Austin, for respondent Austin Grain Co.

Scott Richardson, Austin, for respondent Huntting Elevator Co.

David A. Joerg, Preston, for Lester Ward, et al.

Considered and decided by CRIPPEN, P.J., and FOLEY and LANSING, JJ., with oral argument waived.

OPINION

CRIPPEN, Judge.

The questions presented in this case are (1) whether the parties entered into a valid settlement when the creditor proposed settlement, received settlement documents, delayed acting for several months, and cashed the settlement check; and if so, (2) whether this settlement also extinguishes the creditor's security interest obtained on a third party's property. The trial court granted summary judgment against the creditor on both questions...

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